Welspun Enterprises gets Rs 27 cr bonus from NHAI for early completion of Delhi-Meerut Eway

Welspun Enterprises said Wednesday it has received Rs 27 crore as bonus from the National Highways Authority of India (NHAI) for early completion of Delhi-Meerut Expressway package 1. Prime Minister Narendra Modi in May last year had inaugurated the first phase of 9-km stretch of 14-lane Delhi-Meerut Expressway built at a cost of Rs 842 crore.

"Welspun Delhi Meerut Expressway Private Limited (a wholly-owned subsidiary of the Company) has received Rs 27.09 crore (excluding GST) as Bonus from NHAI for early completion of Delhi-Meerut Expressway Package-1 on June 28, 2018, 332 days ahead of the scheduled completion date," Welspun Enterprises said in a regulatory filing to the BSE. The Delhi-Meerut Expressway Package-1 was the first Hybrid Annuity Model (HAM) project of NHAI to achieve both financial closure as well as commercial operation date (COD), the filing said. The first annuity for the project was received in January 2019 and the next annuity is expected by July 2019, it added.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)