Highway Infrastructure Limited announced it has received a Letter of Acceptance (LOA) from Atal Indore City Transport Services Limited for an EPC service contract valued at ₹1.09 crore.
The contract involves the supply, installation, testing, and commissioning of external electrification infrastructure for e-bus charging facilities at the Dewas Naka Depot in Niranjanpur. The project is part of the central government's PM E-Bus Seva initiative aimed at promoting electric public transportation across Indian cities.
According to the disclosure filed with stock exchanges, the company will execute the project within four months from the contract signing date. Highway Infrastructure Limited will be required to provide a performance security of 3% and an additional performance bank guarantee of 14% of the contract value, both in the form of Term Deposit Receipts.
The contract does not involve any related party transactions, and promoter group companies have no interest in the awarding entity, as confirmed in the regulatory filing submitted by Company Secretary Palak Rathore.
This development aligns with the government's push toward sustainable urban mobility and the expansion of electric vehicle charging infrastructure nationwide.