Gandhinagar: Vascon Engineers Ltd, headquartered in Pune, Maharashtra, India, and led by Managing Director Siddharth Vasudevan Moorthy (with Dr. Santosh Sundararajan serving as WholeTime Director & Group CEO), announced on Wednesday, March 11, that it received a Letter of Intent (LoI) from the Ahmedabad Municipal Corporation for the development of Lotus Park in the city’s South West Zone.

In an exchange filing, the company stated that the order is valued at ₹115.9 crore (excluding GST) and involves the development of Lotus Park over an area of 54,000 square metres as part of the building projects undertaken by the Ahmedabad Municipal Corporation.

The project will be executed on an EPC (Engineering, Procurement, and Construction) basis.Vascon Engineers further noted that the work is scheduled to be completed within 24 months from the date of issuance of the work order. The company also clarified that the contract does not fall under related party transactions.

The Lotus Park project by Amdavad Municipal Corporation (AMC) represents a key municipal infrastructure initiative in Ahmedabad, focusing on the creation of a public park or recreational space spanning 54,000 sq. m in the South West Zone, aimed at enhancing urban green areas and community amenities in the city. DeshGujarat