Newsletter
Ceigall India received an order worth ₹509 crore from the Greater Mohali Area Development Authority (GMADA) to construct roads in Mohali. The contract will be a joint venture with JSP projects.
Ceigall India is an infrastructure company that specialises in the construction of overpasses, roadways, flyovers etc.
The deets: the contract is to be executed in 24 months. Ceigall will have 80% stake in the project while JSP will have the rest 20%.
Big picture: the news comes at an interesting time in the construction space as the Indian government is looking to redefine the sector with initiatives like the Bharatmala Pariyojana and other corridors.
The road construction market is also growing at the rate of 10.2% and is poised to reach a valuation of $341.3 billion by 2033.
