Reliance Infra starts toll collection on 5th road project

Mumbai: Reliance Infrastructure will start collection at its Trichy -Dindigul from Wednesday midnight, the Anil-Dhirubhai Ambani Group said.

With this, the company would have five operational road projects. Driven by this news, shares of the company rose 1.2% on Wednesday to Rs 403.25 on the Bombay Stock Exchange. The 30-share benchmark index Sensex almost unchanged at 16,175.86.

Reliance Infrastructure has completed construction of the National Highways Authority's Trichy -Dindigul project on a build-operate-transfer basis at a total cost of Rs 600 crore. The project entailed widening of a 90 km-road from two lane to a four lane road. The contract entails a concession period of 30 years.

Reliance Infrastructure has a road portfolio of 11 NHAI projects worth about Rs 12,000 crore totaling 970 kms.

The company has a market share of 8% in the road space and aims to scale it up to 14% in the next two years.