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Gammon Infra inks pact with Simplex Infrastructure for two projects

13 Aug 2012 Evaluate

Gammon Infrastructure Projects and Simplex Infrastructure (Simplex) have entered into an understanding for taking up 49% equity stake in two of each other's projects. As per the agreement, the company will take up 49% equity stake in Maa Durga Expressways promoted by Simplex for implementing the project for four laning of Mahulia to Bahragora section on NH-33 and Bahragora to Kharagpur on NH-6 in the states of Jharkhand and West Bengal respectively under NHDP phase III on DBFOT (toll) basis.

Simplex will take up 49% equity stake in Vijayawada Gundugolanu Road Project promoted by the company for implementing the project for six laning of Vijayawada - Gundugolanu section of NH-5 in the state of Andhra Pradesh under NHDP phase V on DBFOT (toll) basis.

The National Highways Authority of India, the authority which awarded the project, has approved the equity tie-up for the project. The tie-up will enable the companies to leverage on each other’s strengths in project execution, financial planning, project development and management.

AJR Infra and Toll Share Price

0.68 0.00 (0.00%)
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Peers
Company Name CMP
Larsen & Toubro 4050.00
Rail Vikas Nigam 296.30
NCC 160.45
KEC International 559.60
Kalpataru Projects 1240.45
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