According to reports from CNBC TV18, Afcons Infrastructure Ltd has secured a significant international contract for railway infrastructure development in Croatia. The company received intimation from the client on Monday (May 11) confirming selection as the most suitable bidder for the reconstruction and expansion of the Dugo Selo–Novska railway line. This marks the company's entry into Europe and represents its largest international order to date. The announcement was made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
As reported by CNBC TV18, the project involves comprehensive railway infrastructure development valued at €677.07 million (approximately ₹7,544 crore excluding taxes). The scope includes reconstruction of the existing track, construction of a second track on the Dugo Selo–Novska railway line, overhead electrification, signalling works, and telecommunication infrastructure in the Republic of Croatia. The company had previously emerged as the lowest bidder for this project on July 21, 2025, with the client now proposing to accept its bid for the rehabilitation and construction of the railway line.
According to CNBC TV18, Krishnamurthy Subramanian, Executive Chairman of Afcons Infrastructure Ltd, described this as a significant milestone marking the company's global journey into Europe. He emphasized the project reflects their ability to deliver complex, large-scale infrastructure solutions across geographies and strengthens their position as a trusted partner in international infrastructure development. S Paramasivan, Managing Director, highlighted that the project aligns with the vision of the Prime Minister of India, i.e., 'Making for the World', and noted the multi-disciplinary nature of the scope encompassing civil works, overhead electrification, signalling, and telecommunication works.
As reported by CNBC TV18, shares of Afcons Infrastructure Limited ended at ₹327.40, down by ₹13.35, or 3.92% on the BSE following the announcement. The market reaction reflects investor response to the company's entry into the European railway infrastructure market with this substantial contract win. The project represents the company's largest international order to date and marks its foray into the European market, potentially opening doors for additional EU-funded infrastructure contracts given the bloc's significant rail modernization pipeline.
