Welspun Enterprises has received the Letter of Award (LoA) from PWD, Government of Maharashtra for Up-gradation of Roads/ Two Laning of Roads/ Two Laning of Roads with paved shoulder under MRIP Package on Hybrid Annuity Mode (HAM) Package number AM 2 Under Public Works Circle, Amravati in Maharashtra State.
The Bid Project Cost is Rs 1,460 crore, with the project length being 352.15 km across 9 sub-packages. The construction period is 2 years from the Appointed Date and O&M period is 10 years after Commercial Operation Date. The Company will receive from PWD 60% of the Bid Project Cost during the construction phase, in five equal installments which would be paid upon achievement of physical progress milestones. The balance 40% will be serviced through semi-annual annuity payments over 10 years. In the O&M phase, the Company will receive semi-annual O&M payments with the first year O&M payment being Rs 31.50 crore.
Welspun Enterprises, formerly Welspun Projects, part of the Welspun Group, is an operating company in the infrastructure business. The company also has investments in Oil & Gas Exploration.