New Delhi: Ceigall Infra Projects Private Limited, a subsidiary of Ceigall India Limited, has been awarded the tender to construct the Indore-Ujjain Greenfield Access Controlled four-lane highway worth ₹ 1,089 crore, the company said in a press release. The 48 km highway project to be executed under the Hybrid Annuity Mode (HAM), is expected to be completed within 24 months.
The tender, awarded by the Madhya Pradesh Road Development Corporation Limited (MPRDC), aims to ease congestion between the two cities, facilitating higher speed vehicular movement along the corridor.
Under the project, Ceigall Infra Projects will construct the highway infrastructure according to the HAM guidelines, enhancing access to key the key economic and religious hubs in Madhya Pradesh.
“The Indore–Ujjain Greenfield Highway is a strategically important infrastructure project for Madhya Pradesh. Receiving this LOA from MPRDC reinforces our strong execution capabilities in complex HAM projects and our commitment to building high-quality road infrastructure. We look forward to delivering this project with a focus on safety, durability and timely execution.” Ramneek Sehgal, Chairman & MD, Ceigall India Limited, said.
Earlier this month, Ceigall India Limited was in the news for bagging an EPC contract to set up a solar power plant in MP worth ₹550 crore. Ceigall India’s shares have been trading at ₹ 261.51 on December 29 at 12.30 PM. The company’s shares have risen 9% this month, despite falling almost 24% on a year-to-date (YTD) basis.
