Mayasheel Ventures Limited Receives Letter of Acceptance for ₹306.53 Crore Infrastructure Project
Mayasheel Ventures Limited (MVL), in a joint venture with M/s JSP Projects Pvt. Ltd., has received a Letter of Acceptance (LOA) for a significant infrastructure project in Arunachal Pradesh. The project, awarded by the Ministry of Road Transport & Highways (MoRTH), involves the construction of a 27.43-kilometer stretch of road (Package 1) on NH-913 (Frontier Highway) to Intermediate Lane on an Engineering, Procurement, and Construction (EPC) mode.The order value for the project is ₹3,06,53,00,000, excluding Goods and Services Tax (GST). The project is expected to be completed within 36 months.
MVL will primarily execute the project in accordance with the terms of the joint venture agreement. This order strengthens the company’s position in the highway and border infrastructure segment and aligns with its growth strategy in EPC civil works.
According to the terms of the LOA:
| Particulars | Description |
|---|---|
| Name of the entity awarding the order(s)/contract(s) | Ministry of Road Transport & Highways (MoRTH) |
| Nature of order(s)/contract(s) | Construction of road from km 0.00 to km 27.430 (Package 1) of Bile Miging section of NH-913 to Intermediate Lane on EPC mode |
| Time Period | 36 Months |
| Broad consideration | ₹3,06,53,00,000 (excluding GST) |
| Promoter Interest | No |
| Related Party Transaction | No |
The bid was submitted through a tender process and accepted as the lowest evaluated responsive bid. Performance Security of ₹9,19,59,000 and Additional Performance Security of ₹9,80,89,600 are required.
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