Adani Road Transport bags order worth Rs2,008 crore from NHAI; stock gains ~1%

31 Mar 2022 , 03:40 PM

Adani Road Transport, a wholly-owned subsidiary of Adani Enterprises Limited has recently participated in the tender under Build-Operate-Transfer (“BOT”) Toll mode invited by NHAI and has received a Letter of Award (LOA) for below mentioned Road Project in the State of Maharashtra.

The order received is of six laning of Kagal-Satara section of NH-48 (old NH-4) [Package – II from km 658.000 to km 725.000] in the State of Maharashtra to be executed on BOT Toll mode under Bharatmala Pariyojana.

With this project award, Adani’s Road Portfolio will have a total of 14 projects with more than 5,000 lane km and asset value exceeding 41,000 Crore spread over 10 states in India i.e., Chhattisgarh, Telangana, Andhra Pradesh, Madhya Pradesh. Kerala, Gujarat, West Bengal, Odisha. Uttar Pradesh, and Maharashtra. The portfolio will have a mix of HAM (Hybrid Annuity Mode), TOT (Toll – Operate – Transfer) and BOT (Build -Operate -Transfer) type assets.

ARTL would continue to evaluate and bid for attractive opportunities in the transport sector which generates value for the stakeholders. The Adani Group would use its immense expertise and experience in setting up complex and mammoth infrastructure projects in record time and to world-class quality standards and successfully operating them.

Adani Enterprises is currently trading at Rs2,015.70 up by Rs21.75 or 1.09% from its previous closing of Rs1,993.95 on the BSE. Its scrip has touched intraday high and low of Rs2,042.20 and Rs1,990 respectively.