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GR Infraproject receives LoA for Rs 3,637 crore project

Aug 28, 2023

By: BlinkX Research Team

GR Infraprojects Limited announced in an exchange filing on August 25 that it received a letter of acceptance (LoA) for the construction of civil works for the Dibang multi-purpose project in Arunachal Pradesh, valued at Rs 3,637 crore.

The joint venture between GR Infraprojects and Patel Engineering known as Dibang Power emerged as the lowest bidder for the building of civil works in the northeast area in March.

The company will build a head race tunnel with intake, pressure shafts, penstocks, a powerhouse, a transformer cavern, a tail race tunnel, and a pothead yard, according to the exchange report. The company builds and maintains roads, highways, bridges, flyovers, and airport runways.

When it comes to orders received, the company has been experiencing success.

The company emerged as the lowest bidder for a project with the National Highways Authority of India (NHAI) in June. The NH 530B in Uttar Pradesh will be four-laned from the Kasganj bypass to the Chandan Nagar section as part of a Rs 1,085 crore hybrid annuity project. Despite a 15-year operation time, the project must be finished in two years.

For a project to build a four-lane highway close to the Yamuna Bridge, the company emerged as the lowest bidder in May. Uttar Pradesh's Kausambhi is where the project is situated. It will be built under the hybrid annuity mode (HAM), which requires the government to cover 40% of all costs.

The project's estimated bid project cost is Rs 737.17 crore, with an estimated completion date. Following the date of commercial operation, there is a 15-year operating window.

Source: Media Reports