Ceigall India Limited, in partnership with Sushee Infra & Mining Limited, has received a Letter of Acceptance from the Ministry of Road Transport and Highways (MoRTH) for a road construction project in Arunachal Pradesh. The contract, valued at ₹704.70 crore (excluding GST) as reported by CNBC TV18 and Free Press Journal, involves building a section of the Frontier Highway. The Financial Express put the project value at ₹707.40 crore, also excluding GST.
Project Details
The joint venture will construct the Lada-Sarli section of National Highway 913 (NH-913), also known as the Frontier Highway. The stretch runs from kilometre 85.60 to kilometre 168.00, covering 82.4 kilometres. The road will be upgraded to an intermediate-lane road under the Engineering, Procurement and Construction (EPC) model, as detailed by Free Press Journal.
Ceigall India holds a 74% stake in the joint venture, with Sushee Infra & Mining owning the remaining 26%. The project timeline is 48 months for construction, followed by a five-year maintenance period.
Company Statements
Ramneek Sehgal, Managing Director of Ceigall India, said the order strengthens the company's portfolio of strategically important road projects. "Our partnership with Sushee Infra & Mining Limited brings together complementary capabilities, and we remain committed to delivering the project with a strong focus on execution excellence, quality and timely completion," he stated, as quoted by The Financial Express. He added that the company looks forward to contributing to critical highway infrastructure and strengthening connectivity in the region.
The company, in its exchange filing, said the project supports the expansion of critical road connectivity in Arunachal Pradesh and forms a crucial part of the Frontier Highway network, according to The Financial Express.
Regulatory and Market Response
According to Free Press Journal, Ceigall India informed the BSE and National Stock Exchange about the development on August 24, 2026. The company confirmed the contract was awarded by a domestic government entity and that it is not a related-party transaction. Promoters, promoter group, and group companies have no interest in the awarding authority.
Market reaction to the announcement varied across reports. CNBC TV18 reported that Ceigall India's shares closed 2.54% lower, down ₹8, at ₹322.35 on the NSE on Monday. The Financial Express, however, said the share price ended at ₹322.15, up 2.5% from the previous close. The same report noted that over the past month, the stock declined around 5%, while over six months it returned 13.5%.
Broader Context
Ceigall India develops highways, expressways, bridges, flyovers, railway overbridges, tunnels, and runways, executing projects through EPC and Hybrid Annuity Model formats. The company is also expanding into utility-scale solar and battery energy storage projects. The latest contract adds to its highway projects in Arunachal Pradesh and is part of the Frontier Highway network, which is expected to improve transport links across remote and strategically important areas of the state, according to Free Press Journal.