H.G. Infra Engineering Limited has informed the Exchange regarding 'Receipt of Provisional Certificate for the Project in the state of Odisha'.
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H.G. Infra's wholly owned subsidiary, H.G. Raipur Visakhapatnam OD-5 Private Limited, has received the Provisional Certificate from the Independent Engineer for a 6-lane highway project in Odisha awarded by NHAI under the Hybrid Annuity Mode (HAM). The project covers the Kaliagura-Baunsaguar Section of NH-130-CD (Package OD-5) on the Raipur-Visakhapatnam Economic Corridor, with a bid project cost of Rs 1,492.11 crore. The project has been declared fit for commercial operation with effect from January 4, 2025, meeting the revised completion schedule. This enables the subsidiary to formally commission the road and start receiving annuity payments from NHAI.
Positive for the stock as project completion and certification unlock annuity revenue and inflows from NHAI. Successful early completion of a large HAM order also strengthens the company's execution track record for future bids.