Welspun Enterprise inks agreement with NHAI for Rs 2,005 cr proj in TN

New Delhi, Dec 3 (PTI) Welspun Enterprises said Monday it has inked a pact with National Highways Authority of India (NHAI) for a Rs 2,005 crore highway project in Tamil Nadu."NHAI and Welspun Sattana

Written by: PTI Feeds

Published: December 3, 2018, 9:15 PM IST

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https://www.india.com/news/agencies/welspun-enterprise-inks-agreement-with-nhai-for-rs-2005-cr-proj-in-tn-3459035/ Copy

New Delhi, Dec 3 (PTI) Welspun Enterprises said Monday it has inked a pact with National Highways Authority of India (NHAI) for a Rs 2,005 crore highway project in Tamil Nadu.

“NHAI and Welspun Sattanathapuram Nagapattinam Road Private Limited (WSNRPL), a subsidiary of Welspun Enterprises Ltd, have executed the Concession Agreement on December 3, 2018 for four-laning of Sattanathapuram to Nagapattinam section of NH-45A (New NH -332) in Tamil Nadu,” the company said in a regulatory filing to the BSE.

It said the project falls under NHDP Phase-IV and will be implemented on hybrid annuity mode (HAM).

“WSNRPL will develop the project at a Bid Project Cost of Rs 2,004.51 crore and first year O&M (operation and maintenance) cost of Rs 5 crore,” the company said.

The construction period is two years and WSNRPL has received a firm sanction letter from lenders for this project, the company said in the filing.

This is published unedited from the PTI feed.