Afcons Infrastructure Ltd has emerged as the lowest bidder for a major international railway contract in Croatia, valued at EUR 677 million (approximately Rs 6,800 crore). The project, awarded by HŽ Infrastruktura Ltd, involves a full-scale upgrade of the Dugo Selo–Novska railway corridor.
Key Highlights:
- Scope includes reconstruction of the existing track and construction of a second line
- Additional works: overhead electrification, advanced signalling, and telecom systems
- Execution timeline: 72 months from formal award date
- Project awarded under competitive international bidding
Strategic Significance:
- Marks Afcons’ largest European win to date
- Reinforces its credentials in complex transnational EPC projects
- Strengthens India’s infrastructure export narrative amid global competition
- Adds to Afcons’ Rs 36,869 crore order book, with rising overseas share
Market Sentiment:
- Analysts view the win as a long-term revenue stabilizer
- Stock performance remained steady post-announcement
Sources: Business Upturn, MarketSetup.in, Financial Express, Business Standard, HDFC Sky, Afcons Corporate Filings