Dilip Buildcon, a construction company based in Bhopal, announced on June 8th that its wholly-owned subsidiary has successfully executed the concession agreement with the National Highway Authority of India (NHAI) for a road project valued at Rs 780.12 crore.

As part of this project, the company will undertake the development of a six-lane access-controlled greenfield highway from Audireddipalle to Mallapalle in Andhra Pradesh, specifically on the Vijayawada Economic Corridor (NH544G). This development will be carried out under the Hybrid Annuity Mode (HAM) as a part of the Bharatmala Pariyojana Phase-I.

According to the regulatory filing made by the construction engineering company, the project is expected to be completed within 24 months from the appointed date. Additionally, it will have an operational period of 15 years starting from the commercial operation date (COD).

In March of this year, Dilip Buildcon had already been declared as the lowest bidder (L-1) for this particular HAM project, which encompasses the six-laning of a 16-km access-controlled greenfield highway from Audireddipalle to Mallapalle.

To meet the project requirements, the construction company must complete the designated work within a period of 24 months. Once the project is completed, it will enter into a 15-year operational phase starting from the COD.