Mumbai, June 11 -- The project involves the demolition and redevelopment of Reserve Bank of India (RBI) residential quarters at the Zoo-Narengi Road Colony in Guwahati, Assam. Awarded on an Engineering, Procurement and Construction (EPC) basis, the contract is scheduled to be executed over a period of 36 months from the date of receipt of the work order.

The contract, valued at Rs 347.43 crore, is expected to strengthen the company's order book and enhance revenue visibility over the medium term.

Vascon Engineers said the order has been awarded by a domestic entity and clarified that neither its promoters nor promoter group entities have any interest in the awarding authority. The company also stated that the contract does not qualify a...