Madhucon Projects signs deal with NHAI

MUMBAI: Madhucon Projects Ltd has signed a concession agreement with NHAI for undertaking construction work for the project between Madurai and Tuticorin at a cost of Rs 820 crore.

The company signed the agreement for the longest BOT (Build, Operate and Transfer) project between Madurai and Tuticorin involving design, engineering, finance, construction and maintenance of KM 138.800 to KM 264.500 of NH-45B, it informed the Bombay Stock Exchange.

Madhucon Projects would carry out construction work for the project at a cost of Rs 820 crore with 20 years concession period and a positive grant of Rs 145 crore, it said.

The shares of the company, which is engaged in the construction business, closed at Rs 182.40, down 0.79 per cent at the BSE.