HG Infra Engineering Ltd was selected as the lowest bidder (L1) for a road upgrade project in Gujarat, the construction firm stated on August 20. The project includes updating the current six-lane road, which includes an elevated corridor and spans from Narol Junction to Sarkhej Junction on National Highway 47 in the state.
In an exchange filing, the company shared, “…H.G. Infra Engineering Limited has been declared as L-l bidder by the Ministry of Road Transport and Highways (MoRTH) for the project.”
The project is expected to cost ₹883.24 crore, according to MoRTH, with HG Infra’s bid coming in at ₹781.11 crore. The 10.63-kilometer project will be executed under the Hybrid Annuity Mode (HAM). It has been estimated that the construction would take 2.5 years.
In the meantime, HG Infra Engineering shares were trading 0.16% lower at Rs 1,580 on the NSE.
