GPTINFRA successfully commissions Concrete Sleeper Factory in Ghana

GPT Infraprojects Limited (GPT) (BSE: 533761; NSE: GPTINFRA) has successfully commissioned its Concrete Sleeper factory in Eshiem, Takoradi, Ghana today with a capacity of 240,000 concrete sleepers per annum through its subsidiary, RMS GPT Ghana Limited.

The factory is located in Eshiem, in the Western Province of Takoradi, Ghana and shall supply concrete sleepers for the Western Railway line project for which the subsidiary had received a contract currently valued at 123 Crores. The factory shall have an annual capacity of 240,000 sleepers per annum and is GPT's third factory in Africa, a promising market for new railway line construction and shall generate an employment of approximately 200 persons directly and indirectly.

Commenting on the commissioning, GPT Chairman, Mr. Dwarika Prasad Tantia, said, "The Company has been able to commission the concrete sleeper factory in Eshiem, in the Western Province of Takoradi, Ghana within 6 months and this is testament to the project execution capabilities of the Company. I commend the team in delivering yet another factory in a record time and that too in an international market and I am sure that this factory will continue to receive further orders as well going forward, given the exemplary performance. We are also grateful to the local government and stakeholders for their continued support for this project and are confident that the project will be able to generate employment in the region thus leading to value addition in the local economy. We continue to maintain the momentum in our Infrastructure and concrete sleeper business with one of the strongest revenues and profits with quite healthy cash flows, leading to good shareholder returns and are confident that the years ahead will expand our horizons into newer geographies and business segments as well."

Shares of GPT Infraprojects Limited was last trading in BSE at Rs. 63.10 as compared to the previous close of Rs. 65.00. The total number of shares traded during the day was 15601 in over 113 trades.

The stock hit an intraday high of Rs. 64.00 and intraday low of 61.95. The net turnover during the day was Rs. 976266.00.

Source : Equity Bulls

Keywords

GPTInfraprojects INE390G01014 ConcreteSleeperFactory Commissioned Ghana Subsidiary RMSGPTGhana