Gayatri Projects secures Rs. 1255 crore highway project
Gayatri Projects has been awarded a Rs. 1255 crore highway contract in a joint venture with Russian construction company PTPS from the National Highway Authority of India (NHAI). The contract was awarded for rehabilitation and up-gradation of 4-laning of Angul-Sambalpur Section of NH-42 (New NH No. 55) km.112.000 to Km.265.000 in the State of Odisha under NHDP-IV on EPC mode.
The contract is to be executed on an EPC (Engineering, Procurement & Construction) basis, which is in line with the management’s decision to maintain an asset-light model. This contract win is also a strong signal of the management commitment to capitalize on the growing EPC opportunities, and comes on the heels of several new projects from a wide set of industries, ranging for National highways, to water distribution and underground mining. In the last 18 months, the company’s order book has more than doubled to over Rs. 10,000 crores on a robust inflow of orders, all of which have been though the EPC model.
This project is under NHDP-IV, that is, the fourth phase of the National Highway Development Programmer that has transformed the transportation landscape of India.