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Welspun Enterprises provides update on Delhi Meerut Expressway project

Capital Market 

NHAI declares appointed date of project as 28 November 2016

Welspun Enterprises announced that National Highways Authority of India (NHAI) has, with respect to the Concession Agreement entered into between Welspun Meerut Expressway (a wholly-owned subsidiary of the Company) and NHAI for execution of the Project on 04 March 2016, declared the Appointed Date for the Project as 28 November 2016.

Under the Concession Agreement, construction of the Project is to be completed within 2.5 years from the Appointed Date and is to be maintained for 15 years thereafter, post which it will be transferred to NHAI.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, November 29 2016. 16:18 IST