Hazoor Multi Projects Limited has received a Letter of Award (LOA) from the National Highways Authority of India (NHAI) for toll collection operations on a section of NH-150A in Karnataka, the company said in a regulatory filing under Regulation 30 of SEBI (LODR) Regulations, 2015.
The contract has been awarded for engaging the company as the user fee collection agency at the Balenahalli fee plaza located at Design Km 397.400. The stretch covers the four-lane section from Challakere to Hiriyur, spanning from existing chainage Km 359.120 to Km 411.560 (design chainage Km 358.500 to Km 414.205) on NH-150A in Karnataka.
Contract value and tenure
The total contract value stands at Rs 44,23,80,000 (Rs 44.23 crore). The order is to be executed over a period of one year.
The scope of work includes collection of user fee at the Balenahalli toll plaza and upkeep and maintenance of adjacent toilet blocks, including recouping consumable items. The project has been awarded through a competitive bidding process via e-tender.
Nature of the order
The contract has been awarded by a domestic entity, NHAI, and pertains to user fee collection. According to the disclosure, the order does not fall under related party transactions, and the promoter or promoter group has no interest in the awarding authority.
