- 31 Oct 2022
- ICICIdirect Research
GR INFRAPROJECTS ACHIEVES FINANCIAL CLOSURE FOR TWO HAM PROJECTS
GRINFRA - 1452 Change: -27.80 (-1.88 %)News:
GR Infraprojects' wholly owned subsidiaries a) GR Bhimasar Bhuj Highway Pvt Ltd having project upgradation to four lane of NH‐341 from Bhimasar junction of NH‐41 to Anjar- Bhuj upto Airport Junction in Gujarat and b) GR Madanapalli Peeleru Highway Pvt Ltd for the project four laning of NH‐71 from Madanapalli to Pileru (Package I) in Andhra Pradesh have achieved financial closure for their HAM projects w.e.f. October 12, 2022 and October 15, 2022, respectively. The combined bid project cost for both projects was at Rs 2,662 crore
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GR Infraprojects has achieved financial closure within the time frames stipulated in the respective concession agreements. With these, the company is expecting the receipt of appointed date soon, post which execution will kick in
Impact:
Positive