Welspun bags procurement and construction contract for Varanasi- Aurangabad road project.

Welspun Enterprises has reached an agreement with Soma Indus Varanasi Aurangabad Tollway (SPV), a Special Purpose Vehicle promoted by Indus Concessions India and Soma Enterprises, for six-laning of Varanasi Aurangabad NH2 Project. The project length is around 192 km, and is situated in Uttar Pradesh and Bihar.

The contract value for the Company is estimated at Rs. 2,366 crore(inclusive of GST).

Under the contract the Company will undertake the procurement and construction, while the Engineering will be undertaken by the SPV.

The project construction is expected to start in April 2021 and likely to be completed in 24 / 27 months subject to the ongoing discussions between SPV and NHAI on descoping to non-availability of land.

This addition once operational shall make the outstanding EPC order book position as Rs. 10,400 crores. This includes EPC work awarded by subsidiary/ joint venture companies and the work being executed during Q4 FY21.

BS