 "Welspun Enterprises inks pact with NHAI for Rs 20-bn project in Tamil Nadu")
Welspun Enterprises said Monday it has inked a pact with National Highways Authority of India (NHAI) for a Rs 20.05 billion 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 20.04 billion and first-year O&M (operation and maintenance) cost of Rs 50 million," 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.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app