MBL Infrastructures, engaged in execution of civil engineering projects with specialization in roads & highways, has been awarded project worth Rs 7.79 billion on DBFOT hybrid annuity basis by National Highways Authority of India (NHAI).

The projects is for six lane of greenfield proposed Udaipur bypass (Connection between NH-76 at existing km 118+500 at Debari to NH-8 Km 287+400 at Kaya village (Udaipur bypass-Length 23.883 Kms.)) on Hybrid Annuity Mode, Package-IV under NHDP phase V in the state of Rajasthan.

During construction, 40% of the bid project cost (Rs 3.11 billion) will be funded by NHAI and the balance 60% (Rs 4.67 billion) will be arranged by the concessionaire. During the operation period, NHAI will pay concessionaire this 60% (adjusted for inflation during construction period) in semi-annual payments along with interest thereon at bank rate plus 3% and also semi-annual payments for operations & maintenance totalling Rs 637.5 million for project (which will be further adjusted for inflation). The projects will be operational within 15 years commencing from commercial operation date (COD).

Shares of the company gained Rs 8.6, or 7.85%, to settle  at  Rs 118.15.  The total volume of shares traded  was  195,386 at  the BSE (Monday).