Ceigall India Unit Wins Rs 603 Crore NHAI Contract for Six-Lane Punjab Spur
The hybrid annuity model promises steady payments for construction followed by 15 years of upkeep.
Overview
- Ceigall India, which reported the award Friday, will build a 10.3 km six-lane spur linking NH-205A to the Zirakpur Bypass in Punjab within 18 months.
- The Rs 603 crore project will be carried out by its wholly owned unit, Ceigall Infra Projects Private Limited.
- The hybrid annuity model mixes government funding during construction with later fixed payments and a 15-year maintenance duty.
- Ceigall’s shares closed down about 2.7% at Rs 268 on the NSE after the disclosure, signaling investor caution despite the new order.
- Chairman Ramneek Sehgal said the win strengthens the highways pipeline, with Free Press Journal detailing scope and terms and CNBC-TV18 noting the day’s stock decline.