Ahmedabad (Gujarat) [India], Mar 11 : Ad Enterprises said on Wednesday it has won a Rs 1,546-crore project from National Highways Authority of India (NHAI) for building a stretch of NH-16 in Andhra Pradesh under Bharatmala Pariyojana.
The project will be undertaken under the hybrid annuity model.
"The company led consortium has received a letter of award from NHAI for six lng of Vijaywada Bypass from Gollapudi to Chinnakak, including a major bridge across river Krishna in Vijayawada Gundugolanu section of NH-16, under Bharatmala Pariyojana on hybrid annuity mode," the company said in a statement.
Bharatmala Pariyojana is a government-funded road and highways project. The company's bid project cost for the 17.88 km project was Rs 1,546.31 crore.
"Ad Enterprises will continue to evaluate and bid for attractive opportunities in the transport sector which generates value for the stakeholders," it said.
"The group will use its expertise and experience of setting up complex and mammoth infrastructure projects in record time and to world-class quality standards and also successfully operating them," it added.
With this project award, Ad Group will have a total of four NHAI road projects under hybrid annuity mode across in the states of Chhattisgarh, Telangana and Andhra Pradesh.
( With inputs from ANI )