G R Infraprojects Secures Rs 1,248.37 Crore Highway Project Agreement with NHAI

6 Jul 2023 , 11:41 AM

G R Infraprojects has signed a concession agreement with NHAI for a Rs 1,248.37 crore Greenfield Varanasi-Ranchi-Kolkata Highway project.

The project will be implemented under the Hybrid Annuity Mode (Package 7) as part of the Bharatmala Pariyojana. The highway will span a distance of 33.50 km from Anarbansalea village to Sagrampur village in Bihar.

The concession agreement was signed through G R Infraprojects’ wholly-owned subsidiary, G R Varanasi Kolkata Highway Private Limited. The operating time for the project is 15 years from the commercial operation date, with a completion period of 730 days from the appointed date.

G R Infraprojects’ stock ended positively following the announcement of the agreemement. The company recently executed an EPC agreement with the East Coast Railway for a tunnel work project valued at around Rs 587.59 crore.

G R Infraprojects has a strong track record in executing road and railway projects, having completed over 100 road projects across 16 states in India. The company emphasizes the integration of technology, robust planning and monitoring, defined processes, and digital project management for effective corporate governance.

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