Mayasheel Ventures Gains 241-Day Extension of Time for Key NHIDCL EPC Project in Nagaland
Mayasheel Ventures Limited has received official approval from the National Highways & Infrastructure Development Corporation Limited (NHIDCL) granting a significant extension of time (EOT) for one of its major EPC projects. The project involves the infrastructure development in Nagaland and relates to the Widening to 2 Lane with Hard Shoulder of Akegwo-Avangkhu section of NH-202K, designated as Package-I under the state's NH(O)-NE initiative.The approval from the Competent Authority at NHIDCL sets a new completion timeline for the project. The scheduled completion date has been extended by 241 days, extending the delivery deadline to October 21, 2026.
This crucial extension comes with favorable contractual terms for Mayasheel Ventures Limited. The approval confirmed that the Extension of Time was granted without the imposition of any Liquidated Damages (LD). Furthermore, the contract specified the freezing of price indices as on the scheduled completion date in accordance with Schedule-J of the governing agreement.
The project involves extensive work on NH-202K in Nagaland and is designated under EPC mode.
Key details regarding the approved extension are summarized below:
| Detail | Status / Value |
|---|---|
| Project Name | Widening to 2 Lane with Hard Shoulder of Akegwo-Avangkhu section of NH-202K (Package-I) |
| Client | National Highways & Infrastructure Development Corporation Limited (NHIDCL) |
| Extension Granted | 241 days |
| New Scheduled Completion Date | October 21, 2026 |
| Contractual Terms | No Liquidated Damages (LD); Price indices frozen as of scheduled completion date |
MAYASHEEL Stock Price Movement
Mayasheel Ventures Limited gained strongly on Wednesday, with shares closing at ₹38.25 after edging up 5.56% from the previous close. The equity saw a trading volume of 15,000 shares as the market settled.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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