NESCO Wins a Contract to Develop Raipur Visakhapatnam Expressway

New Standard Engineering Company Ltd, NESCO Ltd, is a distinguished Indian conglomerate with diversified interests spanning infrastructure and hospitality. Headquartered in Mumbai, the company is widely celebrated for its iconic Bombay Exhibition Centre (BEC), one of the country’s premier venues for trade shows, exhibitions, and grand events.

Contract for Expressway With ₹300 Crores Revenue Potential

Mumbai-based NESCO Ltd has once again demonstrated its prowess in infrastructure development by securing a prestigious contract from National Highways Logistics Management Limited (NHLML). This coveted project forms a critical part of the visionary Bharatmala Pariyojana initiative, which is redefining India’s roadway infrastructure landscape.

Under the terms of the agreement, NESCO will spearhead the development of a pivotal section of the Raipur-Visakhapatnam Expressway, a transformative undertaking aimed at enhancing connectivity between Raipur in Chhattisgarh and Visakhapatnam in Andhra Pradesh two vital economic centres. 

This expressway is set to significantly slash travel time, unlock new trade opportunities, and serve as a catalyst for regional economic advancement. The estimated annualised revenue from these sites is Rs 300 crore from year four of operations.

The period of the lease will be 30 years with the first right of refusal for extending the lease agreement for another 30 years. The project has to be completed within 10 months.

The total cost that Nesco has to incur for the development of wayside amenities is estimated at Rs 50 crore for each of the four sites. 

Importance of Raipur-Visakhapatnam Expressway

Touted as a game-changer, the Raipur-Visakhapatnam Expressway is expected to revolutionise logistics and transportation efficiency while fostering socio-economic growth along its route. By undertaking this ambitious endeavour, NESCO reaffirms its dedication to contributing to India’s growth narrative through cutting-edge infrastructure solutions.

Share Price Performance 

At 2:09 PM today, NESCO Ltd. shares traded at ₹996.55 per share on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.