Welspun Enterprises Receives Road Project Under MRIP Package On HAM In Maharashtra
Welspun Enterprises Limited has received the Letter of Award from PWD, Government of Maharashtra for Upgradation of Roads/ Two Laning of Roads/ Two Laning of Roads with paved shoulder under MRIP Package on Hybrid Annuity Mode (HAM) Package No. AM 2 Under Public Works Circle, Amravati in Maharashtra State.
The Bid Project Cost is INR 14600 million, with the project length being 352.15 km across 9 sub-packages. The construction period is 2 years from the Appointed Date and O&M period is 10 years after Commercial Operation Date. The Company will receive from PWD 60% of the Bid Project Cost during the construction phase, in five equal installments (adjusted for Price Index Multiple) which would be paid upon achievement of physical progress milestones. The balance 40% will be serviced through semi-annual annuity payments over 10 years. In the O&M phase, the Company will receive semi-annual O&M payments with the first year O&M payment being INR 315.0 million.
The Company’s HAM portfolio, now consisting of seven projects, stands at over INR 85000 million. Of these, five projects have achieved Financial Closure, and a firm sanction letter from lenders has been received for the sixth project.
- Issued By:GOVERNMENT OF MAHARASHTRA
- Bagged By:
- Region:Western India
- Value:INR 14600 Million
- Published On:2018-11-09