Gammon to construct Rs 800 cr Godavari bridge project
Gammon Infrastructure has bagged a Rs 800 crore project from the Andhra Pradesh government for constructing a bridge across river Godavari, the company told the Bombay Stock Exchange on Friday.
By PTI |
MUMBAI : Gammon Infrastructure has bagged a Rs 800 crore project from the Andhra Pradesh government for constructing a bridge across river Godavari, the company told the Bombay Stock Exchange on Friday.
Gammon has received the letter of allotment for constructing, financing and maintaining, on build, operate and transfer (BOT) basis, a major bridge across the river Godavari connecting Rajahmundry and Kovvur.
"The total cost to complete the project has been estimated by the company at Rs 800 crore. Gammon would receive a total grant of Rs 207.55 crore from the central and state governments during the construction and operation period of the project," the company said in a filing to the BSE.
The concession period of the project is 25 years, including a construction period of three years. Shares of the company reacted positively on the report and surged 17.47 per cent over its previous close.
It witnessed an intra-day high of Rs 110.25. The scrip was later trading at Rs 105.40, up 12.31 on the BSE in morning trade.
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