Om Metals Infraprojects said Thursday the joint venture (JV) of the company and SPML Infra received letter of intent (LOI) from the Madhya Pradesh government for the development of first smart city, Vikram Udyogpuri near Ujjain.
As a part of work contract, the joint venture company will carry out external and internal infra work relating to roads, lighting water supply and other allied works on 1,000 acre township for the accepted contract amount of Rs 3.24 billion.
Om Metals Infraprojects is engaged in the field of turnkey execution. The company is involved in design, detailed engineering, manufacture, supply, installation, testing and commissioning of hydro mechanical equipments for hydroelectric power and irrigation projects.
Shares of the company gained Rs 3.55, or 9.14%, to trade at Rs 42.40. The total volume of shares traded was 42,762 at the BSE (1.12 p.m., Thursday).