Adani Enterprises win new hybrid annuity road project by NHAI

On Wednesday, Adani Enterprises informed the bourses that the company led consortium received an LOA from National Highways Authority of India (NHAI) for a hybrid annuity road project worth Rs 1,546.31 crore. With this project, Adani Group will have a total of four NHAI road projects under Hybrid Annuity Model (HAM) spanning in the state of Chhattisgarh, Telangana and Andhra Pradesh.

The project awarded on Wednesday involves the six-laning of 17.88 kilometres of Vijaywada Bypass from Gollapudi to Chinakakani, which includes a major bridge across River Krishna in Vijayawada Gundugolanu section of NH-16. The company further stated that the total construction period of the project is 2.5 years and the operation period is 15 years.

The addition of lanes is expected to ease traffic congestion for vehicles travelling to Visakhapatnam and Hyderabad as they would be able to bypass Vijayawada. The project, which was pending for the last ten years, is also expected to bring development to Amaravati region.

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 and transmission and gas distribution.

On Wednesday, the stock closed at Rs 193.05, down by 3.48 per cent or Rs 6.95 per share. The 52-week high is recorded at Rs 261.10 and the 52-week low is Rs 113 on BSE.