G R Infraprojects' subsidiaries achieve financial closure

31 Oct 2022 , 09:19 AM

“GR BHIMASAR BHUJ HIGHWAY PRIVATE LIMITED” and “GR MADANAPALLI PILERU HIGHWAY PRIVATE LIMITED”, wholly owned subsidiaries of G R Infraprojects Limited, are in receipt of letter from National Highways Authority of India (“Authority”) for noting of financial close for their projects w.e.f. October 12, 2022 and October 15, 2022 respectively.

The details of the projects are as follows:
The project is Upgradation  to  Four  Lane  with  Paved  Shoulder  of  NH‐341  from  Bhimasar,  Junction  of  NH‐41  to  Anjar  —  Bhuj  upto  Airport  Junction, Km 0.000  to Km 65.478 in  the  State  of  Gujarat  on  Hybrid  Annuity  Mode.
Name of the subsidiary is GR  Bhimasar  Bhuj  Highway Private Limited where bid  project cost is Rs1085 crore.

Further, the completion period is 910 days from the appointed date and operation period is 15 years from commercial operation date.

The second project is Construction  of  Four  Laning  of  NH‐71  from  Madanapalli  (Design  Km  0.000/Existing  Km  0.000)  to  Pileru  (Design  Km  55.900/Existing  Km  59.250)  (Design  Length  =  55.900  Km)  Package‐I  on  HAM  Mode  in  the  State  of  Andhra  Pradesh  under  Bharatmala  Pariyojna.
Name of the subsidiary is GR Madanapalli  Pileru  Highway Private Limited where bid project cost is Rs1577 crore.

Further, the completion period is 730 days from the appointed date and operation period is 15 years from commercial operation date.

At around 9:19 AM, G R Infraprojects was trading at Rs1220.65 per share higher by 0.47% on the BSE.

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