Ceigall India Limited — Important, 24-12-2024: General Updates

CEIGALL LUDHIANA BATHINDA GREENFIELD HIGHWAY PRIVATE LIMITED, a subsidiary of Ceigall India Limited, has executed a Concession Agreement with the National Highways Authority of India for the development of the Ludhiana-Bathinda Greenfield highway. This project involves creating a 6-lane access-controlled highway, with a total project cost estimated at ₹981 Cr. It will be implemented under the Hybrid Annuity Mode and is expected to be completed within a period of 24 months. This development aligns with the broader Ludhiana-Ajmer Economic Corridor under the Bharatmala Pariyojana Phase-I, indicating a strategic move towards enhancing infrastructure in Punjab, which could present significant growth opportunities for the company. Investors should keep an eye on future updates regarding the project's progress.