Hyderabad-based infrastructure development company, Madhucon Projects Ltd said it received a letter of award (LoA) from the National Highway Authority of India (NHAI) for four laning of Chhapra-Hazipur section on National Highway-19 in Bihar.
The work involves constructing a 64 km highway on design, build, finance, operate and transfer (DBFOT) annuity basis. The company won the project under National Highways Development Project (NHDP) III for semi-annual annuity of Rs65.43 crore. The concession period is five years including construction period of 910 days. The company has accepted the LoA and is proceeding with the forming of a special purpose vehicle in the name of Chhapra-Hajipur Expressways Ltd.
Madhucon Projects ended 2.80% up at Rs147 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.15% up at 16,469.55 points.
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