The Hindu Business Line : Gammon plans Rs 5,000 cr yearly road project investment

NEW DELHI: Infrastructure player Gammon India plans to make an yearly investment of up to Rs 5,000 crore for roads development projects and is looking to bid for 10 projects by fiscal end.

“As of now we plan to invest Rs 1,000-5,000 crore every year on highways ... we would bid for about 10 projects by March 2010. We will make this investment on two projects that we aim to get every year,” Gammon India Managing Director Mr Parvez Umrigar s aid.

With this, Gammon is looking to bid for mega road projects worth $1billion each and expressways contracts, which are likely to come up in the months ahead, Mr Umrigar added.

The government has lined up 10 mega road projects of 400 km length worth Rs 1billion each. Bids for two of them have already been invited recently, while Detailed Project Report (DPR) is underway for three others.

The company will also begin toll collection next month on a part of the 100 km Mumbai-Nasik highway stretch, a project it won under the Public Private Partnership (PPP) initiative of the government for building road infrastructure in the country.

“We will begin tolling of about 50 kms of the 100 kms of our Mumbai-Nasik project next month,” Mr Umrigar said. - PTI

Prev: Japan Steel Works focusing on India to expand operations
Next: Commodity exchanges ask brokers follow money laundering law

Business Line | NUS Index |

Copyright copy; 2009, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line