Welspun gets letter from Maharashtra for opening Amravati road project
Welspun said that it is the 5th hybrid annuity model HAM road project completed by the company with a completion cost of approximately Rs 1,650 crore.
Welspun Enterprises on Tuesday said it has received a letter from the Maharashtra government declaring a provisional commercial operation date of November 11 for a road project completed by it in Amravati.
The company said that it is entitled to receive annuity, interest, and operations and maintenance payments from the Public Works Department every six months in accordance with the provisions of the concession agreement. Welspun said that it is the 5th hybrid annuity model (HAM) road project completed by the company with a completion cost of approximately Rs 1,650 crore. ''With this completion, of the company's total HAM road portfolio of seven projects of around Rs 9,920 crore, five projects of Rs 6,250 crore have achieved PCOD/COD and thereby revenue generating,'' the filing said.
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