Financial Wire

H.G. Infra Engineering Incorporates SPV for Odisha Highway Project

-- H.G. Infra Engineering (NSE:HGINFRA, BOM:541019) has incorporated a wholly owned subsidiary, H.G. Gobindpur Tangi Highway, as a special purpose vehicle for a road project in Odisha, India, according to a Sunday filing on Indian bourses.

Shares of the company rose nearly 1% in Monday's trade.

The SPV will execute a "six-lane access-controlled Capital Region Ring Road Package-III' between Gobindpur and Tangi under hybrid annuity mode, the filing said.

The construction period is 910 days, it added.

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