Highways builder Dilip Buildcon Ltd (DBL) on Monday (October 9) said the company received the letter of acceptance (LoA) and signed the agreement for a new project in Udaipur, Rajasthan, India.

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The project, titled ‘Planning, Design, and Construction of Dewas III and IV Dams in Tehsil-Gogunda, Udaipur District,’ is to be executed on an engineering, procurement, and construction (EPC) single-responsibility turnkey basis, including a 10-year operations and maintenance (O&M) period.

The project, with a total estimated cost of ₹396.93 crore, is slated to be completed within 44 months from the commencement of work, the construction engineering company said in a regulatory filing.

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On June 8, Dilip Buildcon said its wholly-owned subsidiary has executed the concession agreement with the National Highway Authority of India (NHAI) for a ₹780-crore road project.

Under that project, the company will be developing a six-lane access-controlled greenfield highway from Audireddipalle to Mallapalle of Bengaluru on the Vijayawada Economic Corridor (NH544G) on HAM mode under the Bharatmala Pariyojana Phase-I in Andhra Pradesh.

The project will be completed in 24 months from the appointed date and have an operation period of 15 years from the commercial operation date (COD).

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Shares of Dilip Buildcon Ltd ended at ₹308, down by ₹18.05, or 5.54 percent, on the BSE.

(Edited by : Shoma Bhattacharjee)

First Published:Oct 9, 2023 7:14 PM IST