Elsamex S.A., a subsidiary of the Company in Spain and its wholly owned subsidiary in Portugal, namely, Intevial Gestao Integral Rodoviaria SA (“Intevial Portugal”) in consortium with local firms in Portugal had participated in the bid tendered by the Road Administration Authority, Government of Portugal for Maintenance of Roads. The consortium has emerged as the preferred bidder in 6 contracts for maintenance of roads of approx. 10,000 lane kilometers across various states in Portugal for a period of 3 years The estimated total contract value is Euro 57.63 Million (approx. Rs.3,388.49 Million) which includes share of Elsamex S.A. and Intevial Portugal of Euro 44.10 Million (approx. Rs.2,593.16 Million)