Dhruv Consultancy Services secures LOA for Ganga Expressway project; Stock jumps 8%

29 Aug 2022 , 11:36 AM

Dhruv Consultancy Services Limited informed that it has received the Letter stating to award the consultancy assignment.

As per the filing, the assignment is for "Independent Engineer Services for the Development of Access Controlled Six Lane (expandable to eight lane) Greenfield "Ganga Expressway" (Group IV, from village Sarso Distt Unnao to Village Judapur Dando Distt Prayagraj, Design Length 156.847 Km)" in Uttar Pradesh state on DBFOT Toll Basis under PPP from the office of Chief Executive Officer, Uttar Pradesh Expressways Industrial Development Authority (UPEIDA), Lucknow in JV with Artefact Projects Ltd, associate with Global Infra Solutions.

Independent Engineer Services Fee for the said Project will be Rs22,77,96,500/- excluding GST (Rupees Twenty-Two Crores Seventy Seven Lacs Ninety Six Thousand Five Hundred only). The Contract period will be of 60 months, the company said.

The Company need to submit the Performance Security within the stipulated time from the receipt of the LOA, post which all the statutory formalities covering signing of contract agreement as per RFP shall take place.

At around 11:27 AM, Dhruv Consultancy was trading at Rs59.65 per share higher by 8.36% on the BSE.

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