Mumbai, Jan. 29 -- The company said it has received and accepted an offer from ICF for the supply, retrofitting, testing and commissioning of 192 onboard KAVACH equipment Version 4.0. The contract includes warranty and long-term annual maintenance.

The total contract value stands at Rs 230.42 crore. The order is to be executed within 12 months and is entirely domestic in nature.

KAVACH is India's indigenous automatic train protection system developed under the Railways' safety modernisation programme and specified by the Research Designs and Standards Organisation.

Quadrant Future Tek clarified that the contract is awarded on an arm's length basis and that neither the promoters nor group entities have any interest in ICF.

Quadrant Fut...