RailTel announces termination of contract worth Rs 26.72 cr

RailTel Corporation of India announced the termination of contract worth Rs 26.72 crore awarded by South East Central Railway. The company has decided not to execute the work order as the project cost has become unviable due to the prevailing war situation and the consequent steep increase in the prices of OFC, HDPE pipes and other materials. Consequently, customer has terminated the contract awarded to RailTel.