KIL arm secures Singapore L6 certification for unlimited bidding
Kridhan Infra, Mumbai-based steel and steel products manufacturing company, announced that its Singapore based 100 per cent subsidiary, KH Foges Pte won new order worth Rs. 187cr (S$ 36 million) and the certification to bid for unlimited value projects for pilling.
The KH Foges Pte won the order for execution of construction work for pilling and earthworks of a sports & recreation centre. The proposed work includes building of 6 storey sports centre which will include Punggol drive. The project will have execution time of 6 to 7 months.
Company in a press release also mentioned about the new order book size for KH Foges which has now reached levels of Singapore $90 million. Further it became the second largest engineering company in Singapore with L6 certification which enables it to bid for unlimited value projects for pilling.
Kridhan Infra acquired KHF in 2012 seeing its deep rooted presence in Singapore. KHF also has presence in Myanmar and India where it has completed projects such as Shangri La Hotels, Gomti river beautification etc. At domestic level, Kridhan Infra aims to capture more larger share in Andhra Pradesh using Shear Wall technology.
Reacting to the news, stock surged more than 6 per cent on intraday trade. At 12.25 pm, stock showed gains of nearly 6 per cent to trade at per share price of Rs. 32.80 since its last closing on BSE Sensex. The benchmark indices Sensex traded 300 points down at 35,582.