Highway Infrastructure Ltd. Receives Letter of Acceptance for Venkatapalem Fee Plaza Operations
Highway Infrastructure Limited announced it has received a Letter of Acceptance (LOA) from the National Highways Authority of India (NHAI) for operations at the Venkatapalem Fee Plaza in Andhra Pradesh. The value of the contract is Rs. 35,43,99,930.The contract involves operating the user fee plaza at km.35+400 for the 6-laning of Vijayawada Bypass, encompassing a section from Gollapudi to Chinnakakani. The agreement also includes upkeep and maintenance of adjacent toilet blocks, recouping consumable items. The contract is for a period of 90 days.
According to the terms of the agreement, Highway Infrastructure Limited will act as the user fee agency through an e-tender process. No promoter or promoter group companies have an interest in the NHAI, and the transaction will be conducted at arm's length.
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