India’s highway authority has issued a project award to H.G. Infra Engineering for a six-lane access-controlled ring road segment in Odisha under the HAM framework, expanding the contractor’s order book and reinforcing long-term annuity-led infrastructure development in eastern India.
H.G. Infra Engineering Limited has received a formal letter of award from the National Highways Authority of India for the construction of a six-lane, access-controlled section of the Capital Region Ring Road in Odisha. According to official disclosures, the contract will be executed under the Hybrid Annuity Mode, with a bid value of approximately INR 15.82 billion, excluding taxes. The project covers a 40.33-kilometre stretch and carries a construction timeline of about 910 days.
The award adds a sizeable, long-duration asset to H.G. Infra’s portfolio, improving revenue visibility through annuity payments and strengthening its position in large-scale, access-controlled highway projects. For NHAI, the contract advances regional connectivity objectives while leveraging private-sector execution and financing efficiency.
The project underlines continued government reliance on the HAM model to balance fiscal discipline with accelerated highway development. Engineering, procurement and construction firms, as well as lenders active in infrastructure finance, are likely to see sustained opportunity in similar annuity-backed road assets.
For investors and contractors, the award signals steady pipeline momentum in India’s road sector, particularly in eastern states. Execution performance and timely completion will be critical determinants of cash-flow stability and future bid competitiveness.
Entity profile: H.G. Infra Engineering Limited is an India-based infrastructure company focused on highways, roads and related civil engineering projects. The National Highways Authority of India is a statutory body responsible for the development, maintenance and management of national highways across the country.
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