Comments
GMR Highways has completed the Chennai Outer Ring Road Phase I Project.
The company in a release to exchanges said the Tamil Nadu Government and all concerned agencies have issued a provisional certificate for completion with effect from June 15, 2013, for the group’s Chennai Outer Ring Road project.
“This milestone will add to the cash-flow of GMR by ₹118 crore every year for the next 17-and-a-half years. It added almost ₹95 crore to the revenues of the road project in the year just ended on March 31, 2014,” the company release added.
Completed on design, build, finance, operate and transfer basis, the GMR Chennai Outer Ring Road project connects Vandalur on NH-45 to Nemillicheri on NH-205 via Nazaratpet on NH-4.
The company had won the 29.65-km project through international competitive bidding. The concession period of the project is 20 years, including 30 months of construction.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.