State-owned IRCON said it has secured a railway project worth about Rs 1,200 crore in a joint venture.

"Ircon International Ltd (IRCON) under its joint venture with Dineshchandra R Agrawal Infracon Pvt Ltd (DRA) i.E. Ircon-DRA JV has been awarded the LoA for the construction of Kottavalasa-Koraput Doubling Project from Shivalingapuram Station to Borraguhalu Station...," the Railway PSU said in an exchange filing.

The project will be built in engineering, procurement and construction (EPC) mode in 1,260 days, IRCON said. The cost of the project awarded by East Coast Railway is Rs 1,198.09 crore, it said. IRCON, under the Ministry of Railways, is a leading turnkey construction company.

IRCON International is a public sector construction company, with emphasis on infrastructure projects, with specialization in execution of Railway projects on turnkey basis and otherwise. After commencing business as a railway construction company, it diversified progressively to roads, buildings, electrical substation and distribution, airport construction, commercial complexes, as well as metro rail works.