Shares of Afcons Infrastructure Ltd surged 6% on 9 June after the company announced receiving a Rs 700 crore Letter of Award (LoA) from Indian behemoth Reliance Industries. 

Afcons Infrastructure has acquired a letter of award from Reliance Industries, an oil-to-telecom conglomerate, for building work on RIL’s Vinyl Projects in Dahej, Gujarat. 
 
The scope of work comprises civil, mechanical, installation, testing, and commissioning, according to an exchange filing. The contract is worth around Rs 700 crore (without GST) and is expected to be completed by the end of June 2026.

Larsen & Toubro (L&T) and Afcons Infrastructure are emerging as important players in West Asia’s infrastructure boom, gaining billion-dollar contracts as project awards in the Gulf Cooperation Council (GCC) region reach $235 billion by 2024.

Afcons Infrastructure’s bid for the $22 billion Dubai Sewerage Project is a significant leap. The project entails the building of 75 kilometres of deep tunnels, 220 kilometres of connecting sewers, and two major treatment plants.

About Afcons Infrastructure.

Founded in 1959 and headquartered in Mumbai, the firm is a major player in the worldwide construction and engineering industry.  Afcons, a part of the Shapoorji Pallonji Group since 2000, focuses on infrastructure EPC (Engineering, Procurement, and Construction) projects such as bridges, flyovers, metros, railway lines, tunnels, roads, ports, maritime works, and oil and gas structures.

The company has played a key role in major projects such as the Mumbai-Nagpur Expressway and the Chenab Railway Bridge. 

Afcons is known for its creative methods; it was the first infrastructure business to win the Most Creative Knowledge Enterprise (MIKE) Award at the Global, Asia Pacific, and Indian levels.

At 11:35 am, the shares of Afcons Infra were trading 3.09% higher at Rs 448.65 on NSE. 

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