Welspun Enterprises bags Rs 1,161 cr proj from NHAI in Bihar

Welspun Enterprises today said it has bagged a road project worth Rs 1,161 crore from the National Highways Authority of India (NHAI) for six-laning of a section on NH-31 in Bihar.
"The company will develop the project stretch of 8.15 km at a bid project cost of Rs 1,161 crore, and shall receive Rs 9.90 crore/year (adjusted for inflation) as O&M (Operation and Maintenance) payments along with the annuity and interest thereon from the NHAI for a period of 15 years post- construction," Welspun Enterprises said in a BSE filing.
The company received a Letter of Award from NHAI for six-laning of Aunta-Simaria (Ganga Bridge with approach roads) section of NH-31 in Bihar on Hybrid Annuity Model (HAM), it said.

With the award of this project, the company said it has built a portfolio of four HAM projects totaling Rs 4,129 crore.
"The construction of the first HAM project, namely Delhi-Meerut Expressway (Package I), is in full swing and has achieved physical progress of approximately 60 per cent within 9 months of commencement," it added.