Friday, Mar 29 2024 | Time 20:34 Hrs(IST)
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Business Economy


Welspun Enterprises gets LoA from NHAI for Aunta-Simaria project

Mumbai, Sep 1 (UNI)Welspun Enterprises has received Letter of Award
(LoA) from National Highways Authority of India (NHAI) for the
six-laning of Aunta-Simaria (Ganga Bridge with Approach Roads)
section of NH-31 in the state of Bihar on Hybrid Annuity Model (HAM).
The company will develop the project stretch of 8.15 km at a bid
project cost of Rs 1161 crore, and shall receive Rs 9.90 crore/ year
(adjusted for inflation) as O&M payments along with the annuity and
interest thereon from NHAI for a period of 15 years
post-construction,company said in afiling with BSE.
With the award of this project, the company has built a portfolio of
four HAM projects totaling to Rs 4129 crore.
The construction of the first HAM project, namely Delhi-Meerut
Expressway (Package I), is in full swing and has achieved physical
progress of approximately 60 percent within nine months of
commencement.
UNI JS AW1222
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