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.Also Read - Tamil Nadu Schools Reopening: Physical Classes to Resume For Kindergarten, Playschool Students From November 1
“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. Also Read - Video: Sasikala Visits Jayalalithaa's Memorial For First Time Since Jail Release
It said the project falls under NHDP Phase-IV and will be implemented on hybrid annuity mode (HAM). Also Read - Tamil Nadu Steps up Covid Screening of Passengers Arriving From Kerala During Festival Holidays
“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.