Adani Enterprises Ltd awarded 3 Ganga Expressway Projects by UPEIDA

Adani Enterprises Limited (AEL) is focused on incubating successful businesses to address the Country's growing appetite for Infrastructure. With reference to its vision of Nation building, the company remains committed to building Infrastructure to boost India's socio-economic growth.

Adani Enterprises Ltd (AEL) participated in the competitive bidding process invited by UPEIDA for development, financing & construction of Ganga Expressway on PPP basis. Adani Group has announced the award of Three Greenfield Ganga Expressway Projects under DBFOT (Toll) basis of 594 kms from UPEIDA in the state of Uttar Pradesh. The Proposed Greenfield Ganga Expressway will be India's Longest Expressway under PPP framework which will connect Meerut with Prayagraj in the state of Uttar Pradesh.

The combined Estimated Cost as per UPEIDA for Group-II, III and IV is Rs. 17085.16 crore. The Construction Period is 3 Years and Concession Period is 30 Years.

AEL 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 successfully operating them.

With these three awards, Adani's Road Portfolio will have 13 projects with more than 5000 lane kms and asset value exceeding 35,000 Cr. spread over 9 states in India i.e. Chhattisgarh, Telangana, Andhra Pradesh, Madhya Pradesh, Kerala, Gujarat, West Bengal, Odisha, and Uttar Pradesh. The portfolio will have mix of HAM (Hybrid Annuity Mode), TOT (Toll-Operate-Transfer) and BOT (Build-Operate-Transfer) type assets.

Shares of Adani Enterprises Limited was last trading in BSE at Rs. 1591.90 as compared to the previous close of Rs. 1643.50. The total number of shares traded during the day was 121168 in over 7321 trades.

The stock hit an intraday high of Rs. 1637.80 and intraday low of 1556.00. The net turnover during the day was Rs. 192312460.00.

Source : Equity Bulls

Keywords

AdaniEnterprises INE423A01024 GangaExpressway ThreeProjects DBFOT UPEIDA