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Gammon Infra Clarifies on Bid Agreement

  • Gammon Infrastructure Projects has denied report published in the news that the company is the lowest bidders for the 102 km Sidhi-Singrauli road project of the Madhya Pradesh road Development Corporation and the 107 km Birmitrapur-Barlote road project of the National Highways Authority of India.The company has clarified that ``Our managing director has denied conveying or clarifying any such information to the news media or anyone else for that matter.``

  • ``However, we had bid for these two projects and while we are the lowest bidder for the 102.6 km Sidhi-Singrauli project, we are the only bidder for the 125.61 km Birmitrapur-Barkode project. We do not have any documentary evidence to prove this status; however we were present when the bids were opened,`` said Gammon Infrastructure.(Q,N,C,F)*``Being the lowest bidder or sole bidder does not mean that the concerned projects will be awarded to us. We do not normally make any public announcement of projects won by us till we receive the letter of intent from the client and we decide to accept the same. However, we are issuing this clarification in view of the news being flashed by the electronic media,`` it added.Shares of the company gained Rs 0.88, or 7.2%, to settle at Rs 13.10. The total volume of shares traded was 109,464 at the BSE (Tuesday).

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