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Sadbhav Engineering on Tuesday said its joint venture (JV) firm has been declared the lowest bidder for construction of part of the Surat Metro project worth Rs 780 crore by the Gujarat Metro Rail Corporation.
“We have been declared as lowest bidder by Gujarat Metro Rail Corporation (GMRC) Ltd for construction of 11.6 km elevated viaduct and 10 stations for Surat Metro Rail Project phase-1... in the name of SEL-SPSCPL Joint Venture," the company said in a regulatory filing to the BSE.
SEL-SPSCPL JV is a 74:26 per cent joint venture between Sadbhav Engineering Ltd. (SEL) and S.P. Singla Constructions Pvt Ltd.
The company's bid cost for the project was Rs 779.73 crore, and the letter of award is expected to be received from GMRC soon, the company added.
At 11.55 am, shares of were trading 3.78 per cent higher at Rs 60.40 per share on the BSE.
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