H G Infra Engineering's subsidiary gets financial closure for NHAI road project

29 Jul 2022 , 10:06 AM

H G Infra Engineering Limited has announced the achievement of Financial Closure by H.G. Khammam Devarapalle Pkg-2 Private Limited.

H.G. Khammam Devarapalle Pkg-2 Private Limited, a wholly owned subsidiary of H.G. Infra Engineering Limited has received letter from National Highways Authority of India (NHAI) for noting of financial close w.e.f. July 20, 2022.

The Company gets financial closure for construction of 4 lane Access Controlled New Greenfield Highway Section of NH-365BG (Khammam-Devarapalle) of length 29.513 kin from Somavaram village to Chintagudem village (Design Chainage. Kin 33+604 to kin 63+117) under Inter Corridor Route under Bharatmala Pariyojana on Hybrid Annuity mode in the state of Telangana and Andhra Pradesh (Package-II)

Accordingly, the NHAI estimated cost is Rs532.59 crore while HG Infra’s bid project cost is Rs637.11 crore . The estimated completion period is 730 days.

At around 10:07 AM, H.G. Infra Engineering was trading at Rs584.15 per share up by Rs9.7 or 1.69% from its previous closing of Rs574.45 per share on the BSE.

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