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Welspun Enterprises bags Rs 1,460 cr road project in Maharashtra

Press Trust of India  |  New Delhi 

Friday said it has bagged a Rs 1,460 crore road project from PWD in

The company has received the letter of award from PWD, Government of Maharashtra, for upgradation of roads/two-laning of roads/ two-laning of roads with paved shoulder under Road Improvement Programme (MRIP) Package on Hybrid Annuity Mode (HAM) Amravati, said in a BSE filing.

The bid project cost is Rs 1,460 crore, with the project length being 352.15 km across 9 sub-packages, it added.

The company said it will receive from PWD 60 per cent of the bid project cost during the construction phase, in five equal installments which would be paid upon achievement of physical progress milestones.

The balance 40 per cent will be serviced through semi annual annuity payments over 10 years.

The company said it has seven projects under hybrid annuity mode totalling over Rs 8,500 crore.

Shares of were trading 2.32 per cent higher at Rs 123.50 apiece on BSE.

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

First Published: Fri, November 09 2018. 11:55 IST