Shriram EPC makes foray into Transportation Industry

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                       

Email: suresh@shriramepc.com                    Email: mayank@cdr-india.com          

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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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