Welspun Enterprises Bags `1,460 Cr. Road Project In Maharashtra

The company has received the letter of award from PWD, Government of Maharashtra, for upgrading roads/two-laning of roads/ two-laning of roads with paved shoulder under Maharashtra Road Improvement Programme (MRIP) Package on Hybrid Annuity Mode (HAM) in Amravati, Welspun Enterprises said in a BSE filing.

The project bid is `1,460 crore, with the project length being 352.15 km across 9 sub-packages.

The company said it will receive from PWD 60% of the bid project cost during the construction phase, in five equal installments, which would be paid upon achievement of physical progress milestones. The company said it has seven projects under hybrid annuity mode totalling over `8,500 crore.