RInfra rises on starting toll collections on Salem-Ulundurpet road
The company will collect toll on the road for 25 years, after which the road will come under the ownership and maintenance of the NHAI
Reliance Infrastructure (RInfra) has moved higher by 4% at Rs 493 after the company said it has started collecting toll charges on Salem-Ulundurpet road in Tamil Nadu.
In a filing to the stock exchanges, RInfra said that the company, through its special purpose vehicle, SU Toll Road Pvt Ltd, has completed the Rs 1,061-crore, 136-km Salem-Ulundurpet road in Tamil Nadu. The company has commenced collecting toll charges on the road.
The project has been executed on the build, operate, transfer model. Reliance Infra will collect toll on the road for 25 years, after which the road will come under the ownership and maintenance of the National Highways Authority of India.
“A car will pay Rs 37 for a single journey and Rs 56 for multiple journeys. Similarly, an LCV will pay Rs 65 and Rs 97, a bus or a truck Rs 130 and Rs 195, a multi-axle vehicle Rs 209 and Rs 313, respectively. Of course, discounted monthly passes are available,” a release said.
The stock opened at Rs 478 and hit high of Rs 496 on the NSE. A combined 1.11 million shares have changed hands on the counter so far on both the exchanges.