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

12 May 2022 , 10:33 AM

H.G. Raipur Visakhapatnam OD-6 Private Limited, a wholly owned subsidiary of H.G. Infra Engineering Limited (‘HGINFRA’) is in receipt of letter from National Highways Authority of India (‘NHAI’) for noting of financial close w.e.f. May 06, 2022.

As per the regulatory filing, the project is for the ‘Development of Six Lane Baunsaguar – Baraja Section of NH- 130-CD Road from km 293+000 to km 338+500 under Raipur Visakhapatnam Economics Corridor in the state of Odisha on Hybrid Amuity Mode (Package – OD-6).’

Further, the NHAI estimated project is Rs958.98 crore while the HGINFRA bid project cost is Rs1,123.11 crore. The expected completion period of the project is 730 days, informed the company.

On Thursday at around 10:35 AM, H.G. Infra Engineering was trading at Rs535.40 apiece down by Rs20.3 or 3.65% on the BSE.