Adani forays into road infrastructure, wins Rs 1,140-crore highway project in Chhattisgarh
By PTI | Published: 04th April 2018 07:40 PM |
Last Updated: 04th April 2018 07:40 PM | A+A A- |
Adani Group chairman Gautam Adani (File | AFP)
NEW DELHI: Adani Group today announced foray into transport infrastructure with a Rs 1,140-crore highway project won by a consortium led by its holding firm in Chhattisgarh from the National Highways Authority of India (NHAI).
The group's flagship firm Adani Enterprises Ltd (AEL) has been exploring opportunities in the sector.
"Adani Group is pleased to announce its foray into the public transport infrastructure space, with the award of the first Hybrid Annuity Road Project from NHAI," the company said in a statement.
The Rs 1,140 crore project won by AEL pertains to four-laning with paved shoulder of 53.3 km stretch on Bilaspur-Pathrapali section of NH-111 (New NH-130) in Chhattisgarh under Bharatmala Pariyojana on Hybrid Annuity Mode (HAM).
The statement said AEL is focused on incubating successful businesses to address the country's growing appetite for energy and infrastructure.
"We remain committed to maintain our leadership position in the areas of resources, energy, infrastructure, agro 8- logistics businesses.
AEL has been evaluating opportunities in public transport infrastructure which holds promise of growth in next decade.
As the government is contemplating doubling the length of country's highways to two lakh kilometre, Adani Group considers this as growth opportunity for the company," the statement said.
It said the company has recently participated in tender issued by NHAI under Bharatmala Pariyojana, and the company-led consortium has received a letter of award (LOA) from the NHAI for the project.
Adani Enterprise would continue to evaluate and bid for attractive opportunities in this sector which generates value for the stakeholders, the statement said.
The group would bring to use its immense expertise and experience of setting up complex and mammoth infrastructure projects in record time and to world class quality standards and also successfully operating them, it added.
The construction period for the project has been fixed as 730 days while operational period would be 15 years.
