Ceigall India has secured a Rs 704.70 crore order from the Ministry of Road Transport & Highways for the construction of a highway road in Arunachal Pradesh. Ceigall has bagged this project in partnership with Sushee Infra & Mining (SIML). The filing was disclosed on stock exchanges post-market hours.
Ceigall India: Project details
The project involves the construction of a key section of the road of the Lada-Sarli section of NH913 (Frontier Highway) in Arunachal Pradesh at a value of Rs 707.40 crore, excluding GST. The project will be executed as a joint venture between Ceigall India,ndia holding a 74% stake, and SIML, holding a 26% stake.
Ceigall has secured this contract from the Ministry of Road Transport & Highways, and the project carries a construction timeline of 48 months, followed by a maintenance period of five years.
“The order further strengthens Ceigall India’s growing portfolio of road infrastructure projects and reinforces its capabilities in executing large-scale highway projects across challenging geographies,” the company said in its exchange filing. It added that the project supports the expansion of critical road connectivity in the state, forming a crucial part of the frontier highway network in Arunachal Pradesh.
Ceigall India: Management commentary
Speaking on the development, Ramneek Sehgal, Managing Director of Ceigall India, said,”Our partnership with Sushee Infra & Mining Limited brings together complementary capabilities, and we remain committed to delivering the project with a strong focus on execution excellence, quality and timely completion. We look forward to contributing to the development of critical highway infrastructure and strengthening connectivity in the region.”
Ceigall India: Share price
Ceigall India’s share price ended Monday’s trade at Rs 322.15, up 2.5% from its previous close. Over the past one month, its stock has declined around 5%, while over the past six months, its share price has delivered a return of 13.5%.