Rail Vikas Nigam Limited (RVNL) has received a letter of acceptance from the National Highways Authority of India (NHAI) for the major infrastructure projects of Andhra Pradesh.
RVNL shares were trading at £372.25, an NSE’s £14.35 or 4.01% increase at £372.25 at 10:15am today.
£554.64 Kroa project involves building a six-lane access control road connecting Visakhapatnam port from Sababaram Bypass to Sheelanagar Junction. The 12.66km stretch is built in hybrid pension mode under NH(O).
According to the company’s announcement, the project must be completed within 730 days. RVNL has made it clear that the agreement falls under a regular business course and does not include any related party transactions.
The project is formally described as “Construction of six-lane access control control connections” in the hybrid pension mode of Andhra Pradesh in the hybrid pension mode of NH 516C.
