Adani Wins Rs 1,169 Crore Road Project In Odisha From NHAI On Hybrid Annuity Model

Adani Wins Rs 1,169 Crore Road Project In Odisha From NHAI On Hybrid Annuity ModelGautam Adani, chairman and founder of the Adani Group (Abhijit Bhatlekar/Mint via Getty Images)

Adani Enterprises’ wholly-owned subsidiary Adani Road Transport Ltd (ARTL) has won a Rs 1,169.10 crore highway project in Odisha from the National Highways Authority of India (NHAI).

With this project award, Adani Group will have a total of ten NHAI road projects under HAM (hybrid annuity model), Toll-Operate-Transfer (TOT) and Build-Operate-Transfer (BOT) Toll basis in Chhattisgarh, Telangana, Andhra Pradesh, Madhya Pradesh, Kerala, Gujarat, West Bengal and Odisha, reports The Tribune.

“ARTL has received a letter of award (LOA) for development of Six Lane Badakumari - Karki Section of NH-130-CD Road under Raipur-Visakhapatnam Economic Corridor in the State of Odisha on HAM (hybrid annuity model),” the company said in a regulatory filing.

“ARTL would continue to evaluate and bid for attractive opportunities in the transport sector which generates value for the stakeholders,” it said.

“The group would use its immense 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.