Mumbai, March 17 -- The project, awarded under the Hybrid Annuity Mode (HAM), is a key part of the Ludhiana-Ajmer Economic Corridor in Punjab. The contract involves developing a 25.24 km stretch, connecting NH44 near Village Rajgarh to the Delhi-Katra Expressway (NE 5) near Village Ballowal.

The estimated project cost is Rs 864.97 crore, while the bid project cost, as per the LOA, stands at Rs 1,063.79 crore. Ceigall India secured the project with a bid price of Rs 923 crore, and the completion timeline for the project is set at 24 months.

This project was initially awarded to Ceigall India in June 2022 at a bid project cost of Rs 702 crore. However, it was later revoked due to the unavailability of the construction site.

"In this rega...