RKEC Projects Limited (RKEC) — Announcement

📢 Key Event
Contract terminated for Radio Jetty project after delays and client dispute

💡 Investor Takeaway
Shareholders face uncertainty over project recovery and potential financial impact from terminated contract.

⚠️ Risks
Potential financial recovery through arbitration, but no guarantee of success

RKEC Projects Limited terminated its EPC contract for the Passenger Jetty and Terminal Facilities project at Radio Jetty near Gateway of India, Mumbai, as notified to the National Stock Exchange on April 22, 2026. The termination followed delays attributed to external factors including PILs, design changes, and regulatory hurdles, which the company had previously requested extensions for. The company intends to recover all incurred costs, losses, and opportunity costs through arbitration, marking a significant setback in its infrastructure development pipeline.

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