HG Infra's subsidiary achieves financial closure for HAM road project

8 Mar 2022 , 02:25 PM

H.G. Raipur Visakhapatnam AP-1 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. February 25, 2022 for the road project.

As per regulatory filing, the project is for development of Six Lane Aluru – Jakkuva Section of NH-130-CD Road from km 365+033 to km 396+800 under Raipur-Visakhapatnam Economics Corridor in the state of Andhra Pradesh on Hybrid Annuity Mode [Package – 1 (AP)].

Further, NHAI bid project cost is Rs859.30 crore while the HG Infra’s bid price is Rs060.11 crore. The estimated completion period is 730 days, said company in a filing on Monday.

At around 2:30 PM, H G Infra stocks were under selling pressure by 0.31% at Rs530.30 per piece on Sensex.