Adani Road Transport Limited bags TOT road project from NHAI

Adani Road Transport Limited ("ARTL"), is a wholly owned subsidiary of Adani Enterprises Limited (AEL or the Company), incorporated with an objective to carry out the business of Construction, Operation and Maintenance of Roads, Highways, Expressways. ARTL is focused on incubating successful businesses to address the Country's growing appetite for Infrastructure. With reference to our vision of Nation building, we remain committed to building Infrastructure to boost India's socio-economic growth. In this regards, Adani Group is pleased to announce the award of Toll Operate Transfer (TOT) Road Project from National Highways Authority of India (NHAI).

ARTL has recently participated in the fifth round of bidding for Toll Operate Transfer (TOT) mode issued by NHAI and we are pleased to inform you that ARTL led consortium has received a letter of award (LOA) for the first part of bundle (5 A-1) from NHAI for below mentioned road project in the State of Gujarat. This is the first of its kind project awarded to ARTL under TOT mode.

- Projects comprising of 1 National Highway stretch on Toll Operate Transfer (TOT) Mode - Tolling, Operation, Maintenance 8- Transfer of Palanpur-Radhanpur - Samkhiyali Section of NH-27 from Km 589+600 to Km 536+000 in the State of Gujarat -TOT Bundle 5(A-1)

ARTL would continue to evaluate and bid for attractive opportunities in transport sector which generates value for the stakeholders. The Group would use its immense expertise and experience of setting up complex and mammoth infrastructure projects in record time and to world class quality standards and also successfully operating them. With this project award, Adani Group will have total Seven NHAI road projects under HAM and TOT in the States of Chhattisgarh, Telangana, Andhra Pradesh, Madhya Pradesh, Kerala and Gujarat.

Shares of ADANI ENTERPRISES LTD. was last trading in BSE at Rs.1025.6 as compared to the previous close of Rs. 1058.15. The total number of shares traded during the day was 1145603 in over 30221 trades.

The stock hit an intraday high of Rs. 1093 and intraday low of 1018.05. The net turnover during the day was Rs. 1214373737.

Source : Equity Bulls

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