HG Infra Engineering (HGINFRA) has announced a significant development in its infrastructure portfolio. The company's wholly-owned subsidiary, HG Raipur Visakhapatnam OD-6 Private Limited, has been awarded a substantial contract by the National Highway Authority of India (NHAI) for a major road project in Odisha.

Contract Details

The contract, valued at Rs 1,123.10 crore, involves the development of a six-lane road section as part of the Raipur-Visakhapatnam Economic Corridor. Specifically, the project entails the construction of the Baunsaguar-Baraja Section of NH-130-CD Road, spanning from km 293+000 to 338+558 in the state of Odisha.

Project Specifications

Strategic Importance

This project is a crucial component of the broader Raipur-Visakhapatnam Economic Corridor, which aims to enhance connectivity and facilitate economic growth in the region. The development of this six-lane section is expected to significantly improve transportation infrastructure and support increased economic activity along the corridor.

Company Update

In addition to the new contract, HG Infra Engineering has also provided an update on a previously awarded project in the same region. The company has received a provisional certificate for the completion of another section of the Raipur-Visakhapatnam Economic Corridor.

Completed Project Details

The successful completion of this project ahead of the revised schedule demonstrates HG Infra Engineering's capability to execute large-scale infrastructure projects efficiently.

Market Impact

This new contract, along with the successful completion of the previous project, underscores HG Infra Engineering's strong position in the infrastructure sector . The company's ability to secure and execute significant highway projects is likely to be viewed positively by investors and industry observers.

As HG Infra Engineering continues to expand its project portfolio and demonstrate its execution capabilities, it reinforces its role as a key player in India's ongoing infrastructure development initiatives.

H.G. Infra Engineering Limited (HGINFRA) has achieved a significant milestone in its infrastructure development endeavors. The company's wholly-owned subsidiary, H.G. Raipur Visakhapatnam OD-6 Private Limited, has received a provisional certificate for a major highway project in Odisha, valued at ₹1,123.11 crore.

Project Details

The project involves the development of a six-lane highway section from Baunsaguar to Baraja, spanning from km 293+000 to 338+558 of NH-130-CD Road. This stretch is part of the Raipur-Visakhapatnam Economic Corridor in Odisha and is being executed under the Hybrid Annuity Mode (HAM).

Key Highlights

• Project Value: ₹1,123.11 crore
• Awarding Authority: National Highway Authority of India (NHAI)
• Project Type: Hybrid Annuity Mode (HAM)
• Provisional Completion Date: January 8, 2025

Timeline and Execution

The project has demonstrated efficient execution:

Significance of the Provisional Certificate

The issuance of the provisional certificate by the Independent Engineer on April 25, 2025, marks a crucial step in the project's lifecycle. It indicates that the highway section has been declared fit for entry into commercial operation, signifying substantial completion of the construction work.

Company Disclosure

H.G. Infra Engineering Limited made this announcement in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has affirmed that this project does not fall under related party transactions and that promoters or group companies have no interest in the awarding entity.

This achievement underscores H.G. Infra Engineering's capabilities in executing large-scale infrastructure projects and its contribution to India's highway development program. The successful completion of this project is expected to enhance connectivity and economic growth along the Raipur-Visakhapatnam corridor.