NEW DELHI: Adani Enterprises Ltd (AEL) on Wednesday said it has won a Rs 1,546-crore project from National Highways Authority of India (NHAI) for building a stretch of NH-16 in Andhra Pradesh under Bharatmala Pariyojana.
The project will be undertaken under the hybrid annuity mode.
“The company led consortium has received a letter of award (LOA) from NHAI for … six laning of Vijaywada Bypass from Gollapudi to Chinnakakani including major bridge across river Krishna in Vijayawada Gundugolanu section of NH-16 under Bharatmala Pariyojana on hybrid annuity mode,” Adani Enterprises said in a regulatory filing to the BSE.
Bharatmala Pariyojana is a government-sponsored and funded road and highways project.
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The company’s bid project cost for the 17.88 km project was Rs 1,546.31 crore, the company said adding it will be completed in 2.5 years.
Adani Enterprises would continue to evaluate and bid for attractive opportunities in transport sector which generates value for the stakeholders, it said.
“The Group would use its expertise and experience of setting up complex and mammoth infrastructure projects in record time and to world class quality standards and also successfully operating them,” the statement said.
With this project award, Adani Group will have total four NHAI road projects under hybrid annuity mode spanning in the state of Chhattisgarh, Telangana and Andhra Pradesh.
Source: Press Trust of India