Highway Infrastructure Secures NHAI Toll Contract Worth ₹80.17 Crore
Highway Infrastructure Limited has received a ₹80.17 crore toll operations contract from NHAI for the Palayam Fee Plaza in Tamil Nadu. The contract is for 90 days and covers the Krishnagiri to Thumbipadi section of NH-44.
The contract value of ₹80.17 crore is substantial and will contribute to the company's revenue, but the short duration of 90 days limits the long-term impact.
The company secured a new contract with a significant value from a government authority, which is a positive development for its business.
Highway Infrastructure Limited (HIL) has announced the receipt of a Letter of Acceptance (LOA) from the National Highways Authority of India (NHAI) for a toll collection contract at Palayam Fee Plaza in Tamil Nadu.
The contract involves user fee collection for the Palayam Fee Plaza, located at Km 154+500 of NH-44, covering the Krishnagiri to Thumbipadi section (Km 94+000 to Km 180+000) on a Build-Operate-Transfer (BOT) basis. The total contract value is ₹80.17 crore, with a contract period of 90 days.
This strategic location on NH-44 is a crucial corridor for regional and long-distance traffic, connecting key industrial belts and supporting significant passenger and freight movement. Mr. Arun Kumar Jain, Managing Director of Highway Infrastructure Limited, expressed pleasure in receiving the LOA, highlighting it as a milestone for their growing toll collection business and a strengthening of their presence on a strategically important national highway.
He further emphasized the company's commitment to adopting a technology-focused approach to enhance operational efficiency and collection processes. HIL, established in 2006, is an integrated infrastructure development and management company with diversified operations in tollway collection, EPC projects, and real estate, operating across 11 states and 1 Union Territory.
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