DBL-HCC JV wins Rs.1,900 crore NHAI contract

Hindustan Construction Company Ltd. (HCC), in a joint venture with Dilip Buildcon Limited (DBL), has been awarded a Rs.1,900 crore contract by the National Highway Authority or India (NHAI), for design and construction of a 22-km road to link Jharkhand and Bihar, which will include a four-lane bridge over the Ganga river. The road will connect Sahibganj bypass in Jharkhand to Manihari bypass in Bihar. HCC share in the JV is 26% (i.e. Rs.494 crore).

The scope of work envisages construction of 15.885 km new link (NH-1338) including 6 km long Ganga Bridge to 4 lane standard connecting Jharkhand with Bihar, construction of 6 km Manihari Bypass in Bihar to 4 lane standard and widening of NH-131A ending near Narenpur to 4 lane standard in Bihar.

Mr. Arjun Dhawan, Group Chief Executive Officer said, "Our JV is proud to work on this important NHAI project that will improve infrastructure in Bihar and Jharkhand, generating long term benefits to the socio-economic conditions of the region."

HCC's association with the state of Bihar dates to the early sixties when it built India's first road cum rail bridge - Rajendra Setu - across river Ganga at Mokameh. To date, the company has built several railway bridges for Eastern Railway, North Frontier Railways. The lndrapuri Barrage built across river Sone in Rohtas District in 1966 was the fourth-longest barrage (1,409 M) in the world. For the NHAI, HCC has built the Grand Trunk Road Improvement Project in 2007. Recent projects completed in Bihar are rail cum road bridge across river Ganga at Munger and Sone Bridge near Patna.

Shares of HINDUSTAN CONSTRUCTION CO.LTD. was last trading in BSE at Rs.5.66 as compared to the previous close of Rs. 5.84. The total number of shares traded during the day was 968679 in over 782 trades.

The stock hit an intraday high of Rs. 5.75 and intraday low of 5.55. The net turnover during the day was Rs. 5442628.

Source : Equity Bulls

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