Welspun Enterprise signs agreement with NHAI
Welspun Enterprise has signed an agreement with National Highways Authority of India (NHAI) for a highway project in Tamil Nadu. In a regulatory filing to BSE the company informed that National Highways Authority of India and Welspun Sattanathapuram Nagapattinam Road (WSNRPL), a subsidiary of Welspun Enterprises Limited, have executed the Concession Agreement for four-laning of Sattanathapuram to Nagapattinam (Design Ch Km 123+800 to Km 179+555) section of NH-45A (New NH -332) in Tamil Nadu under NHDP Phase-IV on Hybrid Annuity Mode.
The regulatory filing further stated that the project falls under NHDP Phase-IV and will be implemented on hybrid annuity mode (HAM). “WSNRPL will develop the project at a bid project cost of Rs. 2,004.51 crore and first year 0kM cost of Rs. 5 crore,” informed the company.
The four-laning of Sattanathapuram to Nagapattinam would be completed in two years from the Appointed Date. WSNRPL has received a firm sanction letter from lenders for this project.
@EPC World Media