RInfra Wins Two EPC Contracts of Rs 1,881 Cr from NHAI | CORPORATE ETHOS

RInfra Wins Two EPC Contracts of Rs 1,881 Cr from NHAI

By: | February 7, 2018
rinfra

Feb 7: Reliance Infrastructure Ltd (RInfra), a part of the Reliance Anil Dhirubhai Ambani Group, on Wednesday said that the company’s EPC division has received Letters of Award (LOA) from Government of India undertakings for two road projects. The two projects have a combined value of Rs 1,881 crore.

“The road project LOAs have been received from the National Highways Authority of India (NHAI) are for the six-laning of a 69.5 km stretch of Aurangabad to Bihar-Jharkhand border (Chordaha) section of NH2 with a project cost of Rs 882 crore, and the adjoining 71.3 km stretch of the Bihar–Jharkhand border (Chordaha) to Gorhar section of NH-2 in Jharkhand for Rs 999 crore. The six-laning of both the roads projects is under the Government of India’s flagship National Highway Development Program (phase V) and is funded by NHAI,” the company said.

According to the company, the scope of work includes design, engineering, procurement and construction of six-lane highway and associated bridges with paved shoulders. The overall schedule for project is 24 months and 30 months from the appointed date, respectively.

With these two back to back project wins, RInfra EPC order book rises to over Rs 12,300 crore, the company said.

Commenting on the award, RInfra EPC CEO Arun Gupta said, “as a bid strategy, we wanted to win both these projects so as to optimise the resources and cost as both these highway stretches are in continuity. Thus, these project wins are very significant for RInfra.”

RInfra EPC is already executing a NHAI road project in Tamil Nadu for the construction of Vikkaravandi to Sethiyahopu section of NH-45 C. This is the third road EPC project won by NHAI in the last year.

RInfra shares closed trading in red at Rs 430.95, down 0.16% from the previous closing of Rs 431.65, on BSE today.