C & C Constructions bags Rs 400 cr project

MUMBAI: C & C Constructions has bagged the Rs 400-crore Kurali-Kiratpur road project from the National Highways Authority of India (NHAI).

The company in joint venture with B Seenaiah & Co (Projects) has signed a concession agreement with NHAI for the road project, C & C Constructions said in a communique to the Bombay Stock Exchange.

The project, that marks the entry of the company into the build-operate-transfer (BOT) segment, has got Rs 44 crore grant from the government and the project would be completed in two and a half years.

The company has been granted a concession for the development, design, construction, maintenance and operation of 44 km stretch of the NH-21 from Kurali-Kiratpur, connecting Chandigarh and the apple belt of Kullu Valley and other districts of Himachal. The concession period is 20 years.

This road has a historical significance too as it connects the religious site - Anandpur Sahib. It also provides access to two industrial areas of Himachal Pradesh - Nalagarh and Baddi.

C & C and B Seenaiah & Co are infrastructure project development companies that provide engineering, procurement and construction services.

As part of its international operations, C & C and its JV partner have been present in Afghanistan since 2003 and have executed a number of infrastructure projects for the reconstruction of the country.

The shares of the construction company were last trading at Rs 212.50, up 3.46 per cent on the BSE.