Adani Road Transport (ARTL), a subsidiary of Adani Enterprises, has secured a $159m (Rs11.69bn) contract from the National Highways Authority of India (NHAI) for a road project contract in the state of Odisha.

The company received a letter of award (LOA) for development of six lane Badakumari – Karki section of NH-130-CD road under Raipur-Visakhapatnam Economic Corridor in Odisha.

The project was awarded to the company on a hybrid annuity mode (HAM).

Construction works for the six-lane road will be carried out by ARTL for a period of two years.

ARTL further added that it will evaluate and bid for new opportunities in the transport sector to generate value for the stakeholders.

This is the tenth contract to be awarded to Adani Group by NHAI under HAM and toll-operate-transfer (TOT) and build-operate-transfer (BOT) toll basis in Chhattisgarh, Telangana, Andhra Pradesh, Madhya Pradesh, Kerala, Gujarat, West Bengal, and Odisha.

Last month, ARTL secured a contract for a road project in Telangana from the NHAI. The HAM project involves four-laning a 31.8km stretch of the NH-365A road from Kodad to Khammam.

The Rs10.39bn ($143m) contract was awarded to the company under Bharatmala Pariyojana, a centrally funded road and highways project of the Indian Government.

The project’s construction period will last two years, while its operation period will last 15 years.