Reliance Infrastructure Ltd (RInfra), part of the Anil Dhirubhai Ambani-owned Reliance Group, on Friday said that it has received the Letter of Acceptance (LOA) from the National Highways Authority of India (NHAI) for a Rs 711 crore road project in Tamil Nadu.

According to a company statement, the order is for the construction of Vikkaravandi to Sethiyahopu section of NH-45 C in the state on Engineering, Procurement and Construction (EPC) basis. The contract includes design and construction of the 65.96 km long highway including major and minor bridges, railway over bridges, flyover, bypasses and toll plaza as major components of the project. The maintenance period for the project is four years.

“The project is under the Government of India’s flagship program of the National Highway Development Program (phase IV) and is funded by NHAI. The infrastructure major, one of the largest NHAI concessionaires, after quoting Rs 711 crore for the project, was declared the successful bidder,” the company said in the statement.

The project is to be completed within a period of 24 months after commencement of works, it added.

Commenting on the development, RInfra EPC CEO Arun Gupta said, “our renewed thrust on engineering, procurement and construction (EPC) has already begun to show results. This project win comes after we won an EPC order for Rs 3,675 crore from NLC India Ltd for setting up two Lignite based CFBC Thermal Power Projects of capacity 250 MW each.”

Based in Mumbai, RInfra is engaged in developing projects through various special purpose vehicles (SPVs) in several high growth sectors such as power, roads and metro rail in the infrastructure space and defence sector. It is also a leading utility company having presence across the value chain of power businesses such as generation, transmission, distribution and power trading. The company had revamped its strategy to refocus on engineering, procurement and construction (EPC) business targeting an ambitious order book target of Rs 50,000 crore by FY 19.

The company currently operates 11 road projects with total length of 1,000 kms on build, operate and transfer (BOT) basis.

Shares of the company were trading in red at Rs 581, down 0.83% from the previous closing of Rs 585.85, on BSE at 1.35 pm today.

here is company details.

 

NOTE :You need to login first to access this feature.