Gammon Infrastructure Projects has bagged a contract from the National Highways Authority of India (NHAI) for four-laning a national highway in Haryana at an estimated cost of Rs 934.93 crore.
“The company has received the letter of award for the four laning of ... Yamunanagar—Saha—Barwala— Panchkula section of NH—73 in Haryana from the NHAI on design, build, finance, operate and transfer (DBFOT) toll basis,” it said in a filing to the BSE.
The concession period of the project is 22 years, including a construction period of 2.5 years.
“The project cost, as estimated by NHAI, is Rs 934.93 crore. The company will receive a grant of Rs 279 crore during the construction period of the project,” the company added.
The company said further that it has signed two concession agreements with the NHAI for two different road construction projects in Bihar and Andhra Pradesh respectively.
The project in Andhra Pradesh is for six-laning of the Vijayawada—Gundugolanu section of NH 5, while the project in Bihar for four laning of Patna—Buxar stretch of NH 30.
Shares of the company ended at Rs 14.90 apiece on the BSE, 9.96 per cent up from the previous close.