Sadbhav Engineering receives LOA from NHAI for contract amounting to Rs1,572.30cr; stock rises 2%

The construction period of both road projects will be 24 months from the appointed date, said the company.

Nov 18, 2020 07:11 IST India Infoline News Service

Sadbhav Engineering informed the exchanges on Wednesday regarding the receipt of a Letter of Acceptance from NHAI. The National Highway Authority of India has provided the company with LOA for two EPC road project/work. The contract value of the project works totals up to Rs1,572 cr.

The first project amounting to Rs690.30cr will span a length of 22km. It is for the construction of four lane expressway from Sardar Patel ring road to SIndhrej Village of Ahmedabad district from km 0 to km 22 of Ahmedabad-Dholera Greenfield Alignment (NH-751). The project will be completed on EPC mode under Bharatmala Pariyojana in Gujarat. The construction period for the project is 24 months.

The second project is also to be constructed in Gujarat within a timeframe of 24 months. This project will be 26.52km long taking the total length of both projects to 48.52km. Amounting to Rs882.00cr, this will require the construction of four lane expressway from SIndhrej Village to Vejalka Village in Ahmedabad district from km 22 to km 48.52 of Ahmedabad-Dholera Greenfield Alignment (NH-751) in Gujarat. This too shall be constructed on EPC mode under the Bharatmala Pariyojana.

The construction period of both road projects will be 24 months from the appointed date, said the company.

Sadbhav Engineering Ltd was trading at Rs50.50 per piece up by Rs1.3 or 2.64% from its previous closing of Rs49.20 on the BSE, at around 12.50pm . The scrip opened at Rs49.30 and touched a high and low of Rs51.10 and Rs48.45 respectively.

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