Welspun Enterprise inks agreement with NHAI for Rs. 2,005 crore project in Tamil Nadu

Welspun Enterprises said recently it has inked a pact with National Highways Authority of India (NHAI) for a Rs. 2,005 crore highway project in Tamil Nadu. 

"NHAI and Welspun Sattanathapuram Nagapattinam Road Private Limited (WSNRPL), a subsidiary of Welspun Enterprises Ltd., have executed the Concession Agreement on December 3, 2018 for four-laning of Sattanathapuram to Nagapattinam section of NH-45A (New NH -332) in Tamil Nadu," the company said in a regulatory filing to the BSE. 

It said the project falls under NHDP Phase-IV and will be implemented on hybrid annuity mode (HAM). 

"WSNRPL will develop the project at a Bid Project Cost of Rs. 2,004.51 crore and first year O&M (operation and maintenance) cost of Rs. 5 crore," the company said. 

The construction period is two years and WSNRPL has received a firm sanction letter from lenders for this project, the company said in the filing. 

ET