Shares of Afcons Infrastructure Limited ended 1.5% higher on 30th December, after the company said on Monday (29th December) that it has achieved the first tunnel breakthrough under the City and Industrial Development Corporation’s (CIDCO) Hetawane Water Supply Scheme in Wahal village, Navi Mumbai, according to an exchange filing.

Afcons said it will complete the project six months ahead of schedule. The development is expected to help ease Navi Mumbai’s water shortages.

The breakthrough was achieved in water tunnel package-1, which involves building an 8.7 km treated water tunnel. Of this, 5.52 km of tunnelling work has been completed so far. Afcons said this marks the first tunnel breakthrough across CIDCO projects.

The Hetawane Water Supply Scheme includes a 13.25 km raw-water tunnel and a 15.4 km treated-water tunnel. According to CIDCO, the project will boost water supply to Navi Mumbai’s growing areas. It will raise capacity from 120 million litres per day (MLD) to 270 MLD.

Afcons’ Executive Chairman, Krishnamurthy Subramanian, said the milestone was achieved despite geological and logistical challenges. He added that the company has set national tunnelling records through innovative practices. They will complete the project ahead of schedule while maintaining safety and quality standards.

CIDCO Vice Chairman and Managing Director Vijay Singhal said the breakthrough marks a historic moment for CIDCO. He called it the first water tunnel breakthrough in the organisation’s history.

At 3:30 PM, shares of Afcons Infrastructure ended 1.43% higher at Rs 391 on NSE.

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