HCC wins US$ 613 million road contracts
By Chris Sleight10 February 2010
Hindustan Construction Company (HCC) has won contracts to build three contiguous sections of national highway in West Bengal, India. The total contract value is INR 28.6 billion (US$ 613 million), and the 256 km stretch of the NH-34 will be built on a build operate transfer (BOT) concession model.
All three contracts for the stretch of the NH-34 between Bahrampore and Dalkhola involve upgrading the road from two lanes to four. All three contracts will see HCC design, build and finance the construction phase, before operating the road on a toll basis.
According to HCC this latest contract awards takes its total number of assets under management to INR 55 billion (US$ 1.18 billion), a portfolio it has built up in less than two years since it entered the BOT road construction segment in 2008. In addition to the three new contract awards, it is three other major sections of India's national highways network on a BOT basis.
The client for the work is the National Highways Authority of India (NHAI).