Reliance Industries Cancels Work Order for Vascon Engineers' Jamnagar Construction Project
Vascon Engineers Ltd has confirmed that Reliance Industries Limited (RIL) has cancelled a significant work order related to a major construction project in Jamnagar. The cancellation pertains to the planned construction of four multi-story buildings at RIL's RG Expansion site.The work order, which was initiated following a Letter of Intent, involved the construction of 04 Nos G+12 FLL Type Buildings for Sector-3 at RG Expansion Jamnagar. The original commitment from RIL to Vascon Engineers Ltd amounted to Rs. 131.58 Crore, excluding GST.
The details of the cancelled contract and related project parameters are as follows:
| Aspect | Details |
|---|---|
| Counterparty | Reliance Industries Limited (RIL) |
| Nature of Contract | Construction of 04 Nos G+12 FLL Type Buildings for Sector-3 at RG Expansion Jamnagar. |
| Financial Commitment | Rs. 131.58 Crore (excluding GST) |
| Project Status | Work Order cancelled by RIL; no execution commenced. |
The cancellation represents a formal termination of the planned contract between Vascon Engineers and Reliance Industries Limited for this specific industrial undertaking.
VASCONEQ Stock Price Movement
Shares of Vascon Engineers Limited slipped by 1.32% to settle at ₹32.12 today, following a decline that registered ₹0.43 from its previous close. The stock saw a traded volume of 96,906 shares in the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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