Ceigall India on Monday announced that its subsidiary has received a project worth Rs 1,089 crore for the construction of the Indore–Ujjain highway in Madhya Pradesh.
Ceigall India: Project details
As per its regulatory filing, the company’s subsidiary, Ceigall Infra Projects Private Limited, has secured a Letter of Award (LoA) worth Rs 1,089 crore from the Madhya Pradesh Road Development Corporation for the construction of the 48.10-km Indore–Ujjain four-lane highway.
The project involves the development of a 48.10-km-long access-controlled greenfield highway, starting near Pira Parvart and ending at the Simhastha bypass. The project will be executed under the Hybrid Annuity Mode (HAM) and has a completion timeline of 24 months, starting from the date of appointment.
Under the scope of work, Ceigall Infra will be responsible for the construction of highway infrastructure in compliance with HAM guidelines. The company added that the project is aimed at improving connectivity between Indore and Ujjain, ensuring efficient and high-speed vehicular movement.
“The project is expected to play a critical role in easing traffic congestion and enhancing access to key economic and religious hubs in Madhya Pradesh,” the company said in its filing.
Commenting on the development, Ramneek Sehgal, Chairman & Managing Director, Ceigall India, said, “The Indore–Ujjain Greenfield Highway is a strategically important infrastructure project for Madhya Pradesh. Receiving this LoA from MPRDC reinforces our strong execution capabilities in complex HAM projects and our commitment to building high-quality road infrastructure.”
Ceigall India share price
Following the announcement, Ceigall India share price jumped over 3% in the intraday session. Over the past one month, the company’s stock has delivered a return of 12%.
Ceigall India wins Rs 550 crore solar order
On Decemebr 23, Ceigall India secured a work order from Madhya Pradesh Urja Vikas Nigam. The order worth Rs 550 crore is to develop 130 MW of solar PV power projects under the PM-KUSUM-C scheme. Under the project it will handle the design, engineering, procurement, construction, testing and commissioning of grid-connected solar plants across two districts in the state.
