Welspun Enterprises in a filing to BSE has informed it has received provisional commercial operation date (PCOD) for 4 – Laning of Chutmalpur- Ganeshpur section of NH-72A & Roorkee – Chutmalpur- Gagalheri (Uttar Pradesh/ Uttarakhand) section of NH-73 under Hybrid Annuity Model (HAM) executed for National Highways Authority of India (“NHAI”).
The filing further informed, “The project completion cost is over ₹ 1,070 crore. With this event, the Company is entitled to receive annuity payment from NHAI every six months in accordance with the provisions of HAM Concession”.
This is the second HAM project completed by the Company post completion of the country’s first HAM project – Delhi-Meerut Expressway Package-1.
Commenting on this development B K Goenka, Chairman, Welspun Group said, "This is a proud moment for us as we have managed to achieve this milestone in this challenging environment. We are thankful to the Authorities for their guidance and support. The execution of this project strongly showcase our operational capabilities. We will continue to focus on our journey of excellence which will go a long way in creating long-term sustainable value for all stakeholders."