Gayatri Projects bags Rs 1,255 crore highway project

By: | Published: September 23, 2016 4:49 PM

Gayatri Projects announced that it has secured Rs 1,255 crore highway contract in a joint venture with Russian construction firm PTPS from National Highway Authority of India (NHAI).

infrastructure, infrastructure sector, infrastructure sector IndiaThe project envisages “rehabilitation and upgradation to 4-laning of Angul-Sambalpur section…in Odisha under NHDP-IV..,” the company said in a filing to BSE. (NHAI photo)

Gayatri Projects today announced that it has secured Rs 1,255 crore highway contract in a joint venture with Russian construction firm PTPS from National Highway Authority of India (NHAI).

The project envisages “rehabilitation and upgradation to 4-laning of Angul-Sambalpur section…in Odisha under NHDP-IV..,” the company said in a filing to BSE.

The contract is to be executed on engineering, procurement and construction (EPC) basis, which is in line with the management’s decision to maintain an asset-light model, it said.

“This contract win is also a strong signal of the management committee to capitalise on the growing EPC opportunities, and comes on the heels of several new projects from a wide set of industries, ranging from national highways to water distribution and underground mining,” the filing said.

In the last 18 months, the company’s order book has more than doubled to over Rs 10,000 crore on a robust inflow of orders, all of which have been through the EPC model.

The project is under the fourth phase of the National Highway Development programme (NHDP).

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition