Adani Road Transport Limited (ARTL) said on Wednesday, it has secured a contract worth Rs. 1040 crore from NHAI in state of Telangana.
ARTL released a statement, it said, we are pleased to inform you that ARTL has received a letter of award for four laning of NH-365A from Kodad to Khammam in the State of Telangana under Bharatmala Pariyojana on Hybrid Annuity Mode.
This project will be carried out under Bharatmala Pariyojana on Hybrid Annuity Mode (HAM), the company said in a regulatory filing to the stock exchange on Thursday.
The length of the project is 31.8 Km, a construction period of 2 years and the operation period of 15 years.
ARTL is wholly owned subsidiary of Adani Enterprises
This project has come a week after ARTL has secured NHAI road project in the State of Gujarat, where ARTL will take over tolling, operation, maintenance and transfer of Palanpur-Radhanpur-Samkhiyali Section of NH-27, the length of which is 53.6 kms. The concession period is 20 years.
Earlier this year ARTL has won another NHAI project in Kerala at Rd. 1,838-crore, 40.80-km long six-laning of Azhiyur to Vengalam section of NH-17 (New NH-66) in Kerala, which was under HAM model, part of Bharatmala Pariyojna.
Boosting confidence of investors, ARTL said it will continue to evaluate and bid for attractive opportunities in transport sector which generates value for the stakeholders, ARTL would 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.
With the new project awarded in Telangana, Adani Group will have a total of eight NHAI road projects under HAM and Toll-Operate-Transfer (TOT) in Chhattisgarh, Telangana, Andhra Pradesh, Madhya Pradesh, Kerala and Gujarat, company statement further added.
(with insights from PTI)