NESCO Ltd has achieved a significant milestone by being declared the highest bidder by National Highways Logistics Management Ltd (NHML) for developing, operating, and maintaining wayside amenities along the Hyderabad-Vishakhapatnam Expressway. This ambitious project reflects NESCO’s continued efforts to enhance infrastructure along India’s vital highways.
On December 12, 2024, NESCO Ltd announced its selection as the highest bidder for the wayside amenities project on the Khammam-Devarapalle section of the Hyderabad-Vishakhapatnam Expressway. The project involves the development, operation, and maintenance of facilities across four designated sites under a lease agreement for 30 years, extendable by another 30 years through a first right of refusal.
The total estimated cost of developing the amenities stands at ₹50 crore per site, amounting to an overall investment of ₹200 crore. According to the company, the development work is slated for completion within 10 months from the appointed date.
NESCO anticipates an impressive annual revenue of ₹300 crore from the 4 sites, starting from the 4 year of operations. These wayside amenities are expected to enhance the travel experience for commuters and support economic activities along the expressway.
As of December 13, 2024, 12:11 PM, the shares of NESCO Ltd. are trading at ₹1026.75 per share with a surge of 0.8% from its previous day’s closing price. Over the last month, the stock has seen a surge of 5.25%. The stock has a 52-week high and 52-week low of ₹1081.90 per share and ₹748.60 per share respectively.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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