The News Scroll 31 August 2017  Last Updated at 10:46 pm

Welspun Enterprises bags Rs 1,161 cr proj from NHAI in Bihar

Welspun Enterprises bags Rs 1,161 cr proj from NHAI in Bihar
outlookindia.com
1970-01-01T05:30:00+0530

New Delhi, Aug 31 Welspun Enterprises today said it has bagged a road project worth Rs 1,161 crore from the National Highways Authority of India (NHAI) for six-laning of a section on NH-31 in Bihar.

"The company will develop the project stretch of 8.15 km at a bid project cost of Rs 1,161 crore, and shall receive Rs 9.90 crore/year (adjusted for inflation) as O&M (Operation and Maintenance) payments along with the annuity and interest thereon from the NHAI for a period of 15 years post- construction," Welspun Enterprises said in a BSE filing.

The company received a Letter of Award from NHAI for six-laning of Aunta-Simaria (Ganga Bridge with approach roads) section of NH-31 in Bihar on Hybrid Annuity Model (HAM), it said.

With the award of this project, the company said it has built a portfolio of four HAM projects totaling Rs 4,129 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 per cent within 9 months of commencement," it added.

Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds.
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