Rail Vikas Nigam Limited (RVNL) has received a Letter of Acceptance from the National Highway Authority of India (NHAI) for a major infrastructure project in Andhra Pradesh, the company announced today in a regulatory filing.
The shares of RVNL were trading at ₹372.25 up by ₹14.35 or 4.01 per cent on the NSE today at 10.15 am.
The ₹554.64-crore project involves constructing a 6-lane access-controlled road connecting Visakhapatnam Port from Sabbavaram bypass to Sheelanagar junction. The 12.66-kilometer stretch will be built on Hybrid Annuity Mode under NH(O).
According to the company’s announcements, the project must be completed within 730 days. RVNL clarified that this contract falls within its normal course of business and does not involve any related party transactions.
The project is officially described as “Construction of 6 lane Access Controlled connectivity to Visakhapatnam Port Road from Km 0.000 (Sabbavaram bypass of Anakapalli – Anandapuram corridor) to Km 12.660 (Sheelanagar junction) of NH 516C on Hybrid Annuity Mode in the State of Andhra Pradesh.”
