ITD Cementation India Ltd has bagged an engineering, procurement, and construction (EPC) contract worth Rs 1,648 crore for construction at the Vadhvan Port in Maharashtra.
 
The company will be building near-shore reclamation and shore protection for the port.
 
ITD Cementation emerged the lowest bidder and bagged the contract at its quoted price.
 
The contract was awarded at the above-mentioned price which is 6.9 per cent below the estimated cost of Rs 1,770 crore, excluding goods and services tax (GST).
 
The contract was approved by the Vadhvan Port Project Limited (VPPL) board at its eighth meeting on Tuesday. The approved bid was deemed both reasonable and workable, according to a statement by VPPL.

The contract involves the development of about 200 hectares of land in the near-shore area, which is a vital component for initiating other key packages of the project. These include loading points and essential infrastructure.