Madhucon Projects Ltd announced that it has received a letter of award from the National Highways Authority of India (NHAI) for four-laning of the Ranchi-Rargaon-Jamshedpur section of National Highway-33 between km 114 and km 277 in Jharkhand.

The company said in a statement that it would commission two toll-ways in Tamil Nadu by month-end.

The project, awarded under the National Highway development programme Phase III, will be taken up on design, build, finance, operate and transfer (DBFOT) on annuity basis.

Toll deal

The 163-km stretch project is estimated to be worth Rs 1,500 crore and have annuity component of Rs 133.20 crore, with a concession period of 15 years, including construction phase of 912 days.

The company currently has seven build, operate and transfer (BOT) toll and annuity projects in its profile.

Of these, two road projects —Madhucon Agra-Jaipur Expressways Ltd and TN (DK) Expressways Ltd — are operational and two build-operate-transfer toll-way projects, Trichy –Thanjavur Expressways Ltd and Madurai-Tuticorin Expressways Ltd, are expected to commence toll before month end.

The fifth BOT annuity project, Chhapra-Hajipur Expressways Ltd, has commenced construction and NHAI has issued a letter of award for the sixth BOT project Barasat-Krsihnagar.

POWER

The company, which is implementing a 1,920-MW power project through subsidiary Simhapuri Energy Private Ltd in Nellore district of Andhra Pradesh, indicated that phase one of 300 MW will be operational by June 2011.

The second phase of 300 MW will be completed by September 2012 and the third phase of 1,200 MW awaits clearance.

The company has an order book of Rs 4,100 crore and is prequalified for EPC works of over Rs 10,000 crore.

Madhucon shares ended the day's trade higher at Rs 91.45 against previous close of Rs 87.30.

(This article was published on March 22, 2011)
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