ITD Cementation India Ltd., an engineering and construction company, has been awarded a major contract worth ₹1,648 crore for the greenfield Vadhavan port project in Maharashtra’s Dahanu. This order adds to the company’s portfolio of significant infrastructure projects across India.
The awarded contract involves the “construction of near-shore reclamation and shore protection” for the Vadhavan port, a greenfield port development project located in Dahanu, northern Maharashtra. As per the exchange filing, the contract price of ₹1,648 crore excludes goods and services tax (GST). The project is part of ITD Cementation’s ongoing core business activities and underscores its expertise in marine infrastructure development.
Vadhavan port is expected to enhance India’s maritime capacity and boost regional trade. By undertaking this project, ITD Cementation reinforces its position as a key player in the country’s port and harbour development sector.
Earlier in September, ITD Cementation bagged another substantial order worth ₹1,937 crore for constructing a multistoried commercial building in Uttar Pradesh. These back-to-back contracts reflect the company’s growing reputation and capabilities in large-scale construction projects.
Additionally, in October, the company announced a significant ownership change. Its promoter, Italian-Thai Development Public Co, revealed plans to sell its 46.64% stake to Adani Group’s unit, Renew Exim DMCC. Renew Exim DMCC also plans to acquire an additional 26% stake in ITD Cementation through an open offer, signalling a strategic shift in the company’s ownership structure.
As of January 01, 2025, 11:50 AM, the shares of ITD Cementation are trading at ₹545.20 per share with a surge of 1.31% from its previous day’s closing price. Over the last month, the stock has seen a surge of 4.20%. While over the year the stock has surged by 87.50% the stock has a 52-week high and 52-week low of ₹694.30 per share and ₹256.10 per share respectively.
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