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Rail Vikas Nigam (RVNL) has secured a Letter of Acceptance from the National Highway Authority of India (NHAI) for a significant infrastructure project in Andhra Pradesh. The project, valued at Rs 5.54 billion, involves the construction of a six-lane access-controlled road connecting Visakhapatnam Port from the Sabbavaram bypass to the Sheelanagar junction. The 12.66-kilometre stretch will be developed under the Hybrid Annuity Mode (HAM) as part of National Highway (NH) 516C.

As per the contract terms, the project is expected to be completed within 730 days. The initiative aims to enhance connectivity to Visakhapatnam Port, improving traffic flow and logistical efficiency in the region. The contract falls under RVNL鈥檚 regular business operations and does not involve any related party transactions.

Following the announcement, RVNL鈥檚 stock saw an increase, trading at Rs 372.25 on the NSE, reflecting a rise of Rs 14.35 or 4.01 per cent at 10:15 AM. The project is part of the government's broader efforts to strengthen transportation infrastructure and facilitate economic growth in Andhra Pradesh.

News source: The Hindu Businessline