IJM's shares rise 3.61% after securing RM1.5b India highway project

PETALING JAYA: IJM Corp Bhd’s shares rose 3.61% this morning after securing a highway project in India worth RM1.5 billion.

At 10.37am, its share price was 3.61% or 11 sen higher at RM3.16 with a total of 1.25 million shares traded. The group’s share price fell 0.65% to RM3.05 yesterday with some 4.45 million shares done.

IJM was awarded a 2,325 crore rupees (about RM1.49 billion) project which includes rehabilitation, upgrading, construction and widening of the Solapur-Bijapur section of National Highway NH-13 (New Highway 52) connecting Maharashtra and Karnataka states in India.

The project, which falls under the National Highways Development Project Phase-III, is to be executed on a build, operate, transfer (toll) mode on a design, build, finance, operate and transfer basis.