Welspun Enterprises takes over Rs 1900 crore HAM project in Kerala

Welspun Enterprises has agreed to take over a Hybrid Annuity Mode Project i.e. Six-Laning of Existing Kozhikode Bypass (Vengalam Jn. to Ramanattukara Jn.) of NH-66 in the state of Kerala (the Project) from Calicut Expressway (existing Concessionaire) through the process of Harmonious Substitution of the National Highways Authority of India (NHAI).

The proposal of Harmonious Substitution has been submitted by the existing Concessionaire to the lenders of the project and the proposal is subject to NHAI approval. The Appointed Date for the Project has been declared by NHAI.

The original Bid Project Cost of the Project, of 28.4 Kms length, is Rs. 1,710 crore. The current estimated Bid Project Cost with price index escalation is over Rs. 1,900 crore, and the first-year Operations and Maintenance is Rs 6.30 crore.

The Project is proposed to be undertaken by a wholly-owned subsidiary of the Company.

The Company has got 8 HAM projects worth approximately Rs. 11,800 crore out of which 3 projects worth nearly Rs. 3,400 crore have achieved COD/PCOD and others are in advanced stage of implementation. Additionally 1 BOT project of Rs. 2,122 crore is also in advanced stage of implementation.

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