/ Letter Of Award For Six Laning Granted To Atlanta Limited ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Wednesday, 25 January 2017

A six laning project from 401.200 km to 494.410 km of National Highway in Gujarat(length 93.210 km) on a Hybrid Annuity Mode under NHDP Phase V (Package -VI) has been awarded to Atlanta Limited by National Highways Authority of India (NHAI).

The proposal quotes a bid cost of Rs 1292 crore (Rupees One Thousand Two Hundred Ninety Two Crore Only) & first year O&M cost of Rs 12 crore (Rupees Twelve Crore Only). It is mandatory for the Company to incorporate a Special Purpose Vehicle in order to execute the Concession Agreement.

For the purpose of assuring due and faithful performance of its obligations, the Company needs to formulate a Performance security via an irrevocable and unconditional bank guarantee of Rs 64.60 crore

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