RPP Infra Projects has received a letter of acceptance for a new road development contract from the Office of the Superintending Engineer (Highways), Construction and Maintenance, Tiruvannamalai Circle, in Tamil Nadu. The project involves widening the Hogenakkal–Pennagaram–Dharmapuri–Thirupathur Road (SH-60) from two lanes to four lanes.

Valued at Rs 250.99 million including GST, the order has been awarded by a domestic entity and includes a performance security requirement. The company expects to complete the work within 12 months. It clarified that neither the promoters nor promoter group companies have any interest in the awarding authority, and therefore the contract does not fall under related party transactions.

In September, the company had announced a separate order worth Rs 1.34 billion from the Maharashtra State Infrastructure Development Corporation (MSIDC). That project covers road improvement works in Raigad district, including upgrades to the Matheran–Neral–Kalamb road (SH-109) and the Lobhyanchiwadi–Sugve–Pimpaloli–Neral road (MDR-104) across Karjat taluka. RPP Infra said this contract, too, is slated for completion within 12 months.

News source: IIFL Capital