Welspun Enterprises’ arm has received Appointed Date from National Highways Authority of India (NHAI) with respect to Delhi-Meerut project. NHAI with respect to the Concession Agreement entered into with Welspun Delhi Meerut Expressway, a wholly-owned subsidiary of Welspun Enterprises for execution of the Project on March 04, 2016, declared the Appointed Date for the Project as November 28, 2016.
The project is for development of existing road from Km 0.000 to existing Km 8.360 (approximately 8.716) on up to Delhi UP Border section of National Highway No. 24 in the state of Delhi by six laning expressway and four laning either side of the expressway thereof on Design, Build, Operate and Transfer (DBOT Annuity) basis. Under the Concession Agreement, construction of the Project is to be completed within 2.5 years from the Appointed Date and is to be maintained for 15 years thereafter, post which it will be transferred to NHAI.
Welspun Enterprises, formerly Welspun Projects, part of the Welspun Group, is an operating company as well as a holding company in the business of Infrastructure, Oil & Gas Exploration and Renewable Energy. WEL has executed infrastructure projects such as highways, bridges, industrial, residential and commercial buildings.