Latest News | Adani Enterprises Arm Gets LoA for Highway Project in Maharashtra

New Delhi, Mar 31 (PTI) Adani Enterprises on Thursday said it has received a letter of award from NHAI to develop a section of National Highway 48 under the government's Bharatmala Pariyojana.

In a regulatory filing, Adani Enterprises said its wholly-owned subsidiary Adani Road Transport Ltd (ARTL) recently participated in the tender invited by National Highways Authority of India (NHAI).

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ARTL has received a letter of award (LoA) for six-laning of Kagal-Satara section of NH-48 in Maharashtra to be executed on a Build-Operate-Transfer (BOT) Toll mode under Bharatmala Pariyojana, the company said.

The estimated cost of the 67-km project is Rs 2,008.47 crore. The expected completion time is 24 months, AEL said.

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"With this project award, Adani's road portfolio will have total 14 projects with more than 5,000 lane km and asset value exceeding Rs 41,000 crore spread over 10 states. The portfolio has a mix of HAM (Hybrid Annuity Mode), TOT (Toll Operate Transfer) and BOT type assets," it said.

ARTL is engaged in the business of construction, operation and maintenance of roads, highways and expressways.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)