From ports to airports, now on roads! Adani bags 2,923 cr rupees road projects

AHMEDABAD | MUMBAI | RAJKOT – After having forayed into ports and airports, now Adani group forays into road-construction business. In a regulatory update submitted to the Indian Exchanges on Tuesday, Adani Enterprises Ltd said of its wholly owned subsidiary Adani Transport Ltd having bagged 2 projects of 4-laning roads in Telangana state from NHAI (National Highway Authority of India) on Hybrid Annuity Mode (HAM)basis.

ATL has recently participated in tenders issued by NHAI under HAM and the Company led consortium has received a letter of awards (LOA’s) from NHAI for two road projects in the State of Telangana, the company statement read.

First project is of Four Laning of NH-363 from Mancherial (Design Km 0.000 Existing Km 251.900) to Repallewada (Design Km 42.0001 Existing Km 288.510) (Design Length = 42.000 Km) in the State of Telangana under NHDP Phase-IV under NH (0) on HAM, for a company submitted bid amounting to 1,356.90 crore (13.57 billion) rupees.

Whereas second project is of Four Laning of the Suryapet (Design Ch.0.4201 Existing Km. 128.500 of NH-65) to Khammam (Design Ch.59.0461 Existing Km. 50.750 of old SH42) of NH-365BB (Old SH-42) (Design Length = 58.626 Km) in the State of Telangana under Bharatmala Pariyojana on HAM, for a company submitted bid amounting to

Investors & Traders reacted instantly to the announcement, as soon as it the exchanges in India, instant spike of improvement was seen in the share price of Adani Enterprises, sentiment paddled the gradual momentum in green zone and finally the company shares ended on positive counters as business on the bourses ended on Tuesday.

Adani Transport Limited (ATL), a wholly owned subsidiary of the company is focusing on developing transport infrastructure like Road, Highways, Railways, Metro & Mono Rail segment.

Adani Enterprises Limited (AEL) is focused on incubating successful businesses to address the Country’s growing appetite for Infrastructure. With reference to our vision of Nation building, we remain committed to build Infrastructure to boost India’s socio-economic growth.

ATL would continue to evaluate and bid for attractive opportunities in transport sector which generates value for the stakeholders, The Group would bring to use its immense expertise and experience of setting up complex and mammoth infrastructure projects in record time and to world class quality standards and also successfully operating them.