Era Constructions Awarded Highway Project on BOT Annuity Basis

Era Constructions India Ltd has announced that the Company has been awarded contract by National Highways Authority of India (NHAI) for design, construction, development, finance, operation and maintenance of new 4 lane Gwalior Bypass of the length 42.033 Km from Km103 on NH-3 to Km 16 on NH-75 in the state of Madhya Pradesh on BOT Annuity Basis (the 'project') in consortium with other members.

A separate SPV has been incorporated to execute the Highway Project and the concession Agreement has been signed with NHAI for this purpose.

The contract shall be executed by the Company over a period of two and a half years and the total annuity per annum is Rs 530.60 Millions during the concession period of Seventeen and half years.

The estimated cost of the project is 3000 Millions.

Source : Equity Bulls

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