Adani Road Transport Limited receives project from NHAI on BOT-Toll basis

Adani Road Transport Limited ("ARTL"), is a wholly owned subsidiary of Adani Enterprises Limited (AEL or the Company), incorporated with an objective to carry out the business of Construction, Operation and Maintenance of Roads, Highways, Expressways. ARTL is focused on incubating successful businesses to address the Country's growing appetite for Infrastructure. With reference to our vision of Nation building, we remain committed to building Infrastructure to boost India's socio-economic growth. In this regards, Adani Group is pleased to announce the award of Build-Operate-Transfer (BOT)-Toll basis Road Project from National Highways Authority of India (NHAI).

ARTL has recently participated in the tender under Build-Operate-Transfer (BOT)-Toll basis project issued by NHAI and we are pleased to inform you that ARTL led consortium has received a letter of award (LOA) for the below mentioned road project in the State of West Bengal. This is the first of its kind project awarded to ARTL under BOT-Toll basis.

- Six Laning of National Corridor NH-19 from Panagarh to Palsit from km. 521.120 to km. 588. 870 (Total design length 67.750 km) in the State of West Bengal under Bharatmala Pariyojana to be executed on BOT-(T,9I1) basis.

ARTL 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 also successfully operating them. With this project award. Adani Group will have total Nine NHAI road projects under HAM, Toll-Operate-Transfer (TOT) and Build- Operate-Transfer (BOT)-Toll basis in the States of Chhattisgarh, Telangana, Andhra Pradesh, Madhya Pradesh, Kerala, Gujarat and West Bengal.

Shares of ADANI ENTERPRISES LTD. was last trading in BSE at Rs.1107.3 as compared to the previous close of Rs. 1030.85. The total number of shares traded during the day was 571877 in over 12881 trades.

The stock hit an intraday high of Rs. 1115.3 and intraday low of 1034.95. The net turnover during the day was Rs. 619994936.

Source : Equity Bulls

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