Welspun Enterprise inks agreement with NHAI for Rs 2,005 crore project in TN

Welspun Enterprises said Monday it has inked a pact with National Highways Authority of India (NHAI) for a Rs 2,005 crore highway project in Tamil Nadu. 

Welspun Enterprise inks agreement with NHAI for Rs 2,005 crore project in TN
Welspun Enterprises said Monday it has inked a pact with National Highways Authority of India (NHAI) for a Rs 2,005 crore highway project in Tamil Nadu. Source: Pixabay
Written By: PTI
Updated: Tue, Dec 04, 2018
11:57 am
New Delhi, PTI
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Welspun Enterprises said Monday it has inked a pact with National Highways Authority of India (NHAI) for a Rs 2,005 crore highway project in Tamil Nadu. "NHAI and Welspun Sattanathapuram Nagapattinam Road Private Limited (WSNRPL), a subsidiary of Welspun Enterprises Ltd, have executed the Concession Agreement on December 3, 2018 for four-laning of Sattanathapuram to Nagapattinam section of NH-45A (New NH -332) in Tamil Nadu," the company said in a regulatory filing to the BSE.

It said 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 O&M (operation and maintenance) cost of Rs 5 crore," the company said.
The construction period is two years and WSNRPL has received a firm sanction letter from lenders for this project, the company said in the filing.