Adani Road Transport Ltd receives LOA from NHAI for HAM project in Telangana

Adani Road Transport Ltd (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 one more Hybrid Annuity Mode (HAM) Road Project from National Highways Authority of India (NHAI).

ARTL has recently participated in the tender under Hybrid Annuity Mode (HAM) project issued by NHAI and ARTL has received a letter of award (LOA) for the below mentioned road project in the state of Telangana.

- Four laning of NH-365A from Kodad (Design Km 0.00/Existing Km 185.00 of NH-65) to Khammam (Design Km 31.800/ Existing Km 29.400) (Design Length = 31.800 Km) in the State of Telangana under Bharatmala Pariyojana on Hybrid Annuity Mode (HAM).

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 Eight NHAI road projects under HAM and Toll-Operate-Transfer (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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