Adani Enterprises win Rs 867 crore highway project by NHAI

Adani Enterprises Limited (AEL) announced an award of hybrid annuity road project from National Highways Authority of India (NHAI), having recently participated in a tender issued by the autonomous agency of the government. The company said that it was the recipient of a letter of authorisation (LOA) for a road project in the state of Madhya Pradesh.

The said project is for the four-laning of 47 km Nanasa to Pidgaon section of NH-47 in Madhya Pradesh that is set to be done in two years while the operation period is of 15 years. The project comes under Bharatmala Pariyojana, which is a government-funded road and highways project. With this project award, Adani Group will have a total of five NHAI road projects under hybrid annuity model (HAM) spanning in states of Chhattisgarh, Telangana, Andhra Pradesh and Madhya Pradesh.

AEL said that it would continue to evaluate and bid for attractive opportunities in the transport sector that generates value for the stakeholders.

Adani Enterprises Limited is an integrated infrastructure company with businesses spanning coal trading, coal mining, oil and gas exploration, ports, multi-modal logistics, power generation & transmission and gas distribution.

On Wednesday,  the stock closed at Rs 134, down by 2.58 per cent or Rs 3.55 per share. The 52-week high is recorded at Rs 261.10 and the 52-week low is Rs 113 on BSE.