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Main Pointers
1. Atlantaa signs a ₹2,485 crore plus GST EPC sub-contract with IRCON for the Bhandara–Gadchiroli Access Controlled Expressway (BG-03) in Maharashtra.
2. The 34.786-km alignment runs from Sarandi Bk in Bhandara district to Kinhi in Chandrapur district; MSRDC is expected to award the overall project to IRCON as L-1 after tender procedures.
3. The disclosure comes ahead of a formal award, with Atlantaa and IRCON noting market activity following the announcement and pledging further updates upon official confirmation.
Contract overview
Atlantaa Limited, which traded as Atlantaa Limited (previously Altanta Limited in regulatory filings), said on Tuesday that it has entered into an agreement with IRCON International Limited to construct the Bhandara–Gadchiroli Access Controlled Expressway in Maharashtra under the EPC model for Package BG-03. The contract value refers to a sub-contract awarded to IRCON for the expressway package. The agreement was signed in anticipation of the Maharashtra State Road Development Corporation (MSRDC) awarding the project to IRCON after it was declared L-1 in the tender process.
Project specifics
The BG-03 package spans approximately 34.786 kilometers, from km 34+750 Sarandi Bk, Lakhandur taluk in Bhandara district, to km 69+536 Kinhi, Bramhapuri taluk in Chandrapur district. The expressway is designated as an access-controlled route, aligning with state efforts to improve intra-state connectivity and reduce travel times on key corridors.
Financials and status
The sub-contract value is ₹2,485 crore, plus applicable GST. Atlantaa will disclose additional information once MSRDC formally awards the project to IRCON. The development is being tracked amid the broader Maharashtra road infrastructure program and follows IRCON’s recent wins in rail and road sectors.
Market reaction and next steps
On the Bombay Stock Exchange, Atlantaa Ltd ended trading at ₹38.87, up ₹0.39 (about 1.01%), while IRCON International Ltd closed at ₹171.55, up ₹2.05 (about 1.21%). Market observers will be watching for a formal award notification from MSRDC and any subsequent contracting steps that would set the project in motion.
