Shriram
EPC makes foray into Transportation Industry
·
Wins
maiden order worth Rs. 71crore for Palani Temple Ropeway
Shriram
Group’s engineering business unit, Shriram EPC Limited (SEPC) today announced
its foray into the high growth Transportation industry by securing a maiden project
from the state of Tamil Nadu, India.The company has won an order worth Rs.
71crore from the Arulmigu Dandayuthapani temple located at Palani in Tamil
Nadu.
Shriram
EPC isone of the leading service providers of integrated design, engineering,
procurement, construction and project management services for medium to large infrastructure
projects in Water & Sewerage, Renewable Energy, Process and Metallurgical
plants and Municipal service sector projects throughout India.
The
scope of this first Transportation project work includes Design, Manufacture,
Supply, Erection, Testing, Commissioning, Operating and Maintenance of the
Second Ropeway to the Temple that will serve 1,200 persons per hour.
The
temple is located atop a hill and is accessible by stairs, a winch system as
well as an existing ropeway. Due to the growing numbers of pilgrims there is a
requirement to upgrade the access infrastructure at the temple. The existing
ropeway can handle 300 passengers per hour. Shriram EPC
will implement newer technology with higher throughput enabling the second
ropewayto be able to serve 1,200 persons per hour.
The technology
equipment and systems will be supplied by PomaS.A. Poma, a 80 year-old institution
headquartered in France, is a global leader with deep expertise in ropeway
transportationand has built over 8,000 installations in over 80 countries.
Commenting on the order, Mr. T.
Shivaraman, Managing Director & CEO of Shriram EPC Limited, said:
“We
are excited by this order win which marks our entry into a new business
vertical. We would endeavour to bring world class design and technologies to
India and believe that the opportunity linked to growth of the tourism &
urban transportation sector will deepen in the years ahead. This project with
our partner will broaden our range of offerings and allow us to tap into a new
sector. There are multiple opportunities for both niche and mainstream
offerings of Shriram EPC and we are seeing signs of increasing momentum in
enquiries and order wins. Our focus will be to grow our order book and enhance
execution by leveraging our strong technical capabilities enabling us to
sustain the improving trajectory of business performance.”
About Shriram EPC : Shriram EPC (NSE: SHRIRAMEPC, BSE:
532945) is one of the leading service providers of integrated design,
engineering, procurement, construction and project management services for infrastructure
projects in Roads & Highways, Renewable energy, Process and Metallurgical
plants and Municipal service sector
throughout India.
The EPC
business is focused on providing integrated turnkey solutions for biomass-based
power plants, bio-ethanol production plants, process and metallurgy plants
(including thermal power plants), water and wastewater treatment plants, water
and sewer infrastructure and pipe rehabilitation.
Shriram EPC
is headquartered in Chennai. Their EPC project experience and footprint reaches
across India and internationally.
For further information please
contact
Mr. K Suresh Mr.
Mayank Vaswani
Shriram EPC Limited CitigateDewe
Rogerson
Tel: +91 44
49015678
Tel: +91 22 6645 1230
Safe Harbour
Some of the
statements in this press release that are not historical facts are
forward-looking statements. These forward-looking statements include our
financial and growth projections as well as statements concerning our plans,
strategies, intentions and beliefs concerning our business and the markets in
which we operate. These statements are based on information currently available
to us, and we assume no obligation to update these statements as circumstances
change. There are risks and uncertainties that could cause actual events to
differ materially from these forward-looking statements. These risks include,
but are not limited to, the level of market demand for our services, the
highly-competitive market for the types of services that we offer, market
conditions that could cause our customers to reduce their spending for our
services, our ability to create, acquire and build new businesses and to grow
our existing businesses, our ability to attract and retain qualified personnel,
currency fluctuations and market conditions in India and elsewhere around the
world, and other risks not specifically mentioned herein but those that are
common to industry.
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