HG Infra Engineering Bags NHAI Project Worth ₹862 Crore

12 Mar 2024 , 12:05 PM

HG Infra Engineering’s share price rose in early trade on March 12 following the company’s receipt of a letter of award worth ₹862 Crore from the National Highways Authority of India (NHAI).

At the time of writing, HG Infra Engineering Ltd. was trading at ₹905.05, 0.66% dip on the BSE.

The awarded project involves the construction of an “Access controlled highway of 4 Lane with Paved Shoulders from TN/AP Border (Design Chainage km 61+51) to Puttur (Design Chainage Km 81+450) of NH-716 & 6 Lane with Paved Shoulders from Mallavaram (Design Chainage Km 97+100) to Renigunta (Design Chainage Km 114+500) of NH-71 in the state of Andhra Pradesh on Hybrid Annuity Mode under NH(O) (Chennai-Tirupati Package-II)” and is expected to be completed in 24 months.

HG Infra Engineering also secured a contract for the construction of a 4-lane elevated corridor at Kalimandir-Dimna Chowk-Baliguma (Jamshedpur) section of NH-33 (New NH-18, from km 241.940 to km 251.961) under NH(O) on Engineering, Procurement and Construction (EPC) mode in Jharkhand. The project cost is ₹610.11 Crore, with a construction period of 30 months.

On March 2, the company received a letter of acceptance from South Central Railway for the doubling of track project between Karanjgaon station at Km 69.01 (Ch 69010) and Aurangabad station at Km 113.15 (Ch 113150). The project, including electrification and signaling works, is part of the Aurangabad Ankai Doubling Project in Nanded Division of South-Central Railway, with a cost of ₹447.11 Crore.

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