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Welspun Enterprises stock zooms 6% on receiving provisional certificate for commercial operation of NHAI project

Welspun Infrafacility Private Limited (“SPV”), a wholly-owned subsidiary of the Company is entitled to collect toll on this BOT (Toll) Project.

April 01, 2022 1:05 IST | India Infoline News Service
Welspun Enterprises Ltd has informed the receipt of the Provisional Certificate for Commercial Operation (“PCOD”) effective March 31, 2022, from National Highways Authority of India (“NHAI”) for a length of 53.763 km (77.96%) out of total project length of 68.960 km, in respect of 8- laning of section of NH-1 (New NH-44) from Mukarba Chowk to Panipat on BOT (Toll) Basis.

With this, Welspun Infrafacility Private Limited (“SPV”), a wholly-owned subsidiary of the Company is entitled to collect toll on this BOT (Toll) Project.

Out of the Company’s total HAM road portfolio of 7 projects of around Rs10,000 crore, 5 projects of Rs6,300 crore had earlier achieved PCOD/COD. With the PCOD of this BOT (Toll) project, a total of 6 projects (of Rs8,500 crore), in the Company’s overall road portfolio of over Rs12,000 crore, are now revenue-generating, said company in a regulatory filing on Friday.

At around 1:08 PM, Welspun Enterprises was trading at Rs77.35 apiece up by Rs4.4 or 6.03% on the BSE.

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