Aniket PujariSEPC share price surged nearly 14% during Thursday’s trading session following the announcement of a deal with ROSHN Group Company, located in Riyadh, Kingdom of Saudi Arabia (KSA), for infrastructure projects valued at ₹2,200 crore in the Middle Eastern nation.
In a filing with the stock exchange, the entity previously recognised as Shriram EPC Ltd stated that the agreement is intended to facilitate the execution of infrastructure projects in Saudi Arabia, especially in Jeddah. As part of this agreement, SEPC has submitted a bid for infrastructure developments in three specific areas within Jeddah North, Phase 1A. The estimated value of the project is about SAR 893 million, which translates to roughly ₹2,200 crore.
This initiative is expected to play a significant role in advancing the region’s infrastructure, as Jeddah continues to develop and modernize, according to the company.
The framework agreement establishes the groundwork for the possible implementation of “Call-off Orders,” which are distinct work orders for the particular zones specified in the agreement.
