Gayatri Projects today said it has, with joint venture partner RKTCPL, bagged a new road contract worth Rs 119 crore from the Chhattisgarh government.
The order forms part of the Centre and Asian Development Bank's agreement for improving the road connectivity along key corridors in the state.
The project aims to improve more than 900 km of state roads, in line with the Chhattisgarh Road Master Plan, involving upgradation of road sections and strengthening culverts and bridges.
Awarded by the Public Works Department, Chhattisgarh, the project is for rehabilitation and upgradation of Sheorinarayan -Birra-Champa Road, Gayatri said in a filing to the BSE.
The company's scrip closed at Rs 175.15, up over 3 per cent on the BSE.
Gayatri Projects Ltd Managing Director T V Sandeep Kumar Reddy said: "The project will help improve the road connectivity within the state thus accelerating its progress, as lack of quality roads at present continues to hinder the benefit of the state's rich mineral and coal deposits.
