Key Points of GR Infraprojects Share Gain on Winning Multi Projects:
- GR Infraprojects has been declared as the lowest bidder for two major projects in Maharashtra and Arunachal Pradesh.
- The Dibang Power consortium, a joint venture between GR Infraprojects and Patel Engineering, is the L-1 bidder for the construction of civil works for LOT-4 of the Dibang Multipurpose Project in Arunachal Pradesh.
- The project includes head race tunnels, penstocks, power house, and more, and is worth Rs 3,637.12 crore.
- GR Infraprojects holds a 50% stake in the contract, and the project is set to be completed in 86 months.
- GR Infraprojects also emerged as the L-1 bidder for a six-laning project in Maharashtra worth Rs 872.17 crore.
- The project will be executed on a Hybrid Annuity Mode under Bharatmala Pariyojana, and the completion period is set for 730 days with a 15-year operation period from the commercial operation date.
- As of 9:20 am, GR Infraprojects shares were trading at Rs 1,002.50, up Rs 33.55, or 3.46% on the BSE, and the successful bids have given investors optimism about the company’s future prospects.
Details of GR Infraprojects Share Gain on Winning Multi Projects:
GR Infraprojects Emerges as L-1 Bidder for Projects in Maharashtra and Arunachal Pradesh
Shares of GR Infraprojects gained 4% in early trade on March 23 after the company was declared as the lowest bidder for two major projects in Maharashtra and Arunachal Pradesh. The Dibang Power consortium, a joint venture between GR Infraprojects and Patel Engineering, emerged as the L-1 bidder for the construction of civil works for LOT-4 of the Dibang Multipurpose Project in Arunachal Pradesh, which includes head race tunnels, penstocks, power house, and more. The project, worth Rs 3,637.12 crore, is set to be completed in 86 months with GR Infraprojects holding a 50% stake in the contract.
Additionally, GR Infraprojects emerged as L-1 for a six-laning project of the Surat-Nashik-Ahmednagar-Solapur-MH/KNT Border Greenfield stretch in Maharashtra, worth Rs 872.17 crore. The project will be executed on a Hybrid Annuity Mode under Bharatmala Pariyojana, and the completion period is set for 730 days with a 15-year operation period from the commercial operation date.
As of 9:20 am, GR Infraprojects shares were trading at Rs 1,002.50, up Rs 33.55, or 3.46% on the BSE. The company’s successful bids for the two major projects have given investors optimism about its future prospects.
About GR Infraprojects:
With its expertise in designing and building different road and highway projects across 14 Indian states, GR Infraprojects stands as an all-in-one road engineering, procurement, and construction (EPC) company.
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