MoneyWorks4Me

HCC’s arm sells its Annuity Road Project in Andhra Pradesh

05 Dec 2014 Evaluate

Hindustan Construction Company’s (HCC) infrastructure development arm HCC Concessions has reported the sale of Nirmal BOT, its annuity project in Andhra Pradesh to Highway Concession One, an entity majorly held by IDFC Alternatives managed India Infrastructure Fund.  HCC Concessions shall receive total consideration of Rs 64 crore for this transaction. Further, Nirmal BOT has also received an arbitration award in its favour for Rs 16.67 crore, which shall be payable to HCC, upon receipt.

HCC is a leader in engineering and construction space. The company has established a vast presence and gained recognition in the sectors of Hydro Power, Water Solutions, Transportation and Nuclear Power.

Peers
Company Name CMP
Larsen & Toubro 3632.00
Kalpataru Projects 1368.90
NCC 125.55
Rail Vikas Nigam 199.75
KEC International 352.15
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