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

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

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

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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