Reliance Infrastructure Ltd (RInfra) today announced that it has bagged Rs 711 crore project in Tamil Nadu from the the National Highways Authority of India (NHAI).
"RInfra has received the Letter of Acceptance (LOA) from the NHAI for the construction of Vikkaravandi to Sethiyahopu section of NH-45 C in Tamil Nadu after it emerged as the lowest bidder for the development of the project on Engineering, Procurement & Construction (EPC) basis," the company said in a statement.
The project is part of the Centre's flagship programme of the National Highway Development Programme (phase IV) and is funded by NHAI.
The infrastructure major, one of the largest NHAI concessionaires, after quoting Rs 711 crore for the project, was declared the successful bidder.
The project is to be completed within 24 months.
The contract includes design and construction of the 65.96 km highway including major and minor bridges, railway over bridges, flyover, bypasses and toll plaza as major components of the project. The maintenance period for the project is four years.
Other bidders included L&T, IL&FS and Punj Lloyd.
RInfra EPC CEO Mr Arun Gupta said, "Our renewed thrust on engineering, procurement and construction (EPC) has already begun to show results. This project win comes after we won an EPC order for Rs 3,675 crore from NLC India Ltd for setting up two lignite-based CFBC thermal power projects of capacity 250 mw each."
The Reliance Group Company had revamped its strategy to re-focus on EPC business targeting an ambitious order book target of Rs 50,000 crore by FY'19.
It has been focusing on projects in power, roads, railways, defence and ports. The company currently operates 11 road projects with total length of 1,000 kms on build, operate and transfer (BOT) basis.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
