Economic corridors: Adani bags Rs 1.2k cr Odisha highway on HAM
Adani Enterprises Ltd (AEL) has secured a Rs 1,169 crore highway project in Odisha from the National Highways Authority of India (NHAI).
The contract has been secured by Adani Enterprises’ wholly-owned subsidiary Adani Road Transport Ltd (ARTL). ARTL has received a letter of award (LoA) for the development of the six-lane Badakumari-Karki Section of NH-130 CD Road, under the Raipur-Visakhapatnam Economic Corridor in Odisha on the hybrid annuity model (HAM).
Raipur–Visakhapatnam Expressway is a 464 km planned and upcoming access-controlled greenfield six-lane expressway connecting Chhattisgarh, Odisha and Andhra Pradesh.
Adani Enterprises said its bid project cost is Rs 1,169.10 crore and the construction period is two years. It further added that ARTL would continue to evaluate and bid for attractive opportunities in the transport sector, which generates value for the stakeholders.
With this project award, the Adani Group will have a total of 10 NHAI road projects under HAM, Toll-Operate-Transfer (TOT), and Build-Operate-Transfer (BOT) Toll basis in Telangana, Chhattisgarh, Andhra Pradesh, Madhya Pradesh, Kerala, Gujarat, Odisha, and West Bengal.
As we have reported, Odisha has significantly scaled up its budget this year and focused on roads and bridges under its ‘Biju’ schemes.
Also read: Odisha ups outlay to build 1,000 km roads