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Corporate News
23-Jul-15
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ALSTOM India & Alstom Transport S.A JV issued LoA by DFCCIL
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For Electrification, Signalling, Telecommunications & related works for a railways project
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ALSTOM India announced that the proposed Joint venture (JV) of ALSTOM India (AIL) and Alstom Transport S.A. (ATSA) has been issued a Letter of Acceptance (LoA) by Dedicated Freight Corridor Corporation of India (DFCCIL) for Design, Construction, Supply, Testing and Commissioning of 2X25kv AC 50 Hz Electrification, Signalling, and Telecommunication and Associated Works of Double Track Railways Lines Under Construction on a Design Build Lump Sum Basis for Bhaupur-Khurja Section of Eastern Dedicated Freight Corridor (System Works Contract Package –104) for an accepted contract amount of approximately Rs. 1,497 (One thousand four hundred ninety seven) crore.
Further the Company has informed that, AIL had completed the sale and transfer of its transportation systems undertaking (Transport Undertaking) to ALSTOM Transport India (ATIL), as a going concern on a ‘slump sale' basis on 31 March 2014. Before the sale and transfer of the Transport Undertaking, AIL and ATSA had participated in the bidding process in February 2013 against which the aforesaid LoA has been issued by DFCCIL. Pursuant to the said LoA, AIL and ATSA shall incorporate a Special Purpose Company (SPC) for the purpose of executing the aforesaid project. The role of AIL in such SPC
shall be limited only to equity participation not exceeding 5% (not exceeding Rs 8 crore).
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