GR Infraprojects shares gain on winning multiple projects

GR Infraprojects and Patel Engineering JV bagged a project worth Rs 3,637.12 crore in Arunachal Pradesh.

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GR Infraprojects share price gained 4 percent in the early trade on March 23 after company was declared as the lowest bidder for projects in Maharashtra and Arunachal Pradesh.

Dibang Power consortium, a joint venture between GR Infraprojects and Patel Engineering, has emerged as L-1 bidder for construction of civil works for LOT-4 comprising head race tunnels including intake, pressure shafts, penstocks, power house & transformer cavern, tail race tunnels, pothead yard, adits etc. for Dibang Multipurpose Project 2880 MW (12 X 240 MW) in Arunachal Pradesh, GR Infraprojects said in a stock exchange filing.

The cost of the project is Rs 3,637.12 crore and it is to be completed in 86 months.

The share of GR Infraprojects in the contract is 50 percent.

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In addition, GR Infraprojects has emerged as L-1 for a project of six-laning of Surat – Nashik – Ahmednagar– Solapur – MH/KNT Border Greenfield stretch in the state of Maharashtra to be executed on Hybrid Annuity Mode under Bharatmala Pariyojana with a cost of Rs 872.17 crore.

The completion period is 730 days from the appointed date and operation period is 15 years from the commercial operation date.

At 09:20 am G R Infraprojects was quoting at Rs 1,002.50, up Rs 33.55, or 3.46 percent on the BSE.