NHAI contract for Nagarjuna Construction
30 January 2006
The Hyderabad-based Nagarjuna Construction Company Ltd has secured two new orders, one from the National Highways Authority of India (NHAI)and the other from the Tamil Nadu Road Development Company Ltd. The combined value of the two orders is Rs164.57crore.
The order from the National Highways Authority of India is for the rehabilitation and upgradation the Jhansi-Lakhnadon section on national highway-26 in Uttar Pradesh to four lanes. The order is valued at Rs140.39 crore. The project has to be completed within 30 months.
The order from the Tamil Nadu Road Development Company Ltd involves the construction of a road over bridge near Lalapet in Tamil Nadu within 18 months. The order value of the project is Rs24.18 crore.
Earlier this month, the New Delhi-based NHAI had awarded two other highway construction contracts in Uttar Pradesh to Nagarjuna Construction to build the 35km stretch of the Oral-Bhognipur section on national highway 25 and the 17.8km Bhognipur-Barah section on NH No. 2 in Uttar Pradesh.
These project will be executed on BOT (annuity) basis under joint venture with Nagarjuna Construction''s share being 64 per cent.
Nagarjuna construction has been ona fast-paced growth curve and has been ranked third amongst the fastest growing construction companies in India by the 2005 annual Construction World- NICMAR study, and the fourth most admired company according to the Construction World reader survey.