RKEC Projects Limited has announced the termination of a significant EPC contract for the construction of Passenger Jetty and Terminal Facilities at Radio Jetty near Gateway of India, Mumbai. The contract, valued at approximately Rs 186.67 crores, was terminated by the client MMB on April 21, 2026.

Contract Details and Termination

The company had initially received the work order in October 2024 for the prestigious Mumbai waterfront project. However, the contract faced multiple challenges that led to its eventual termination.

Project Challenges and Delays

RKEC Projects attributed the project delays to several factors beyond the company's control. The project encountered significant obstacles that impacted its timeline and execution:

• Multiple Public Interest Litigations (PILs)
• Special Leave Petitions (SLPs)
• Design changes during project execution
• Resultant delays from regulatory and legal challenges

Despite these external factors, the client MMB alleged delays on the company's part and proceeded with contract termination. RKEC Projects had sought Extension of Time due to circumstances beyond its control, but the request was not accommodated.

Company's Response and Legal Action

RKEC Projects has indicated its intention to pursue legal remedies to recover financial losses from the contract termination. The company plans to initiate arbitration proceedings to seek compensation for various categories of losses.

The company expressed confidence in recovering these amounts through the arbitration process, demonstrating its commitment to protecting shareholder interests despite the contract setback.

Regulatory Compliance

The disclosure was made under Regulation 30 of SEBI LODR Regulations, 2015, ensuring transparency with stakeholders regarding material developments affecting the company's operations. This regulatory filing keeps investors informed about significant contract developments that could impact the company's financial performance.

RKEC Projects has secured a major infrastructure contract worth ₹40.5 crore from the National Highways Authority of India (NHAI) for bridge construction work in Bihar. This contract award represents a significant milestone for the company's ongoing expansion in the government infrastructure sector.

Contract Details

The awarded contract involves bridge construction work to be executed in Bihar state under NHAI's infrastructure development program. The project value of ₹40.5 crore adds substantially to the company's current order book and reinforces its position in the competitive infrastructure construction market.

Strategic Significance

This contract win demonstrates RKEC Projects' continued ability to secure government infrastructure projects, particularly in the highways and bridges segment. The company's expertise in civil engineering and construction services has enabled it to compete successfully for NHAI projects, which are typically awarded through competitive bidding processes.

The Bihar location of this project expands the company's geographical presence and provides opportunities for further business development in the eastern region of India. Government infrastructure projects like this typically offer stable revenue streams and contribute to long-term business sustainability.

Company Profile

RKEC Projects operates in the infrastructure construction sector, with particular focus on civil engineering projects including roads, bridges, and related infrastructure development. The company has established itself as a reliable contractor for government agencies and has built a track record of executing infrastructure projects across various states in India.