Welspun Enterprises gets appointed date from NHAI for road project

The project entails the four-laning of the 62.7km stretch of Chikhali - Tarsod (Package-HA) section of NH-6 in the State of Maharashtra at a bid project cost of Rs1,048cr.

Jan 21, 2019 03:01 IST India Infoline News Service

NHAI has declared Jan 16 as appointed date for a Welspun Enterprises project. The project entails the four-laning of the 62.7km stretch of Chikhali — Tarsod (Package-HA) section of NH-6 in the State of Maharashtra, at a bid project cost of Rs1, 048cr. The company made the announcement on Friday evening, post market hours.

Under the Concession Agreement construction of the project is to be completed within 2.5 years from the appointed date. The project will be maintained for 15 years from commercial operation date, after which it will be transferred to NHAI.
“The project has achieved the financial closure and loans can be disbursed,” said the company in the BSE press release.

Welspun Enterprises Limited offers civil engineering services. The company's segments include infrastructure, trading, and oil & gas. 

Welspun Enterprises Ltd ended at Rs108.50 down by Rs1.5 or 1.36% from its previous closing of Rs110 on the BSE.

The scrip opened at Rs108.35 and touched a high and low of Rs110.50 and Rs106 respectively. A total of 65,056 (NSE+BSE) shares were traded on the counter.

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