Nagarjuna Construction Company in consortium with POSCO E & C of South Korea has bagged an EPC contract valued at Rs 1,558 crore from Steel Authority of India for IISCO steel plant at Burnpur, West Bengal. The project comprises of setting up of blast furnace complex to be completed over a period of 30 months. This will be the largest blast furnace in India and would be based on state-of-the-art technology of POSCO E&C. The company’s share of the order is Rs 1,100 crore approximately.
The Nagarjuna Constructions stock is up 10% at Rs 240.