GVK Power and Infrastructure Ltd has announced that GVK Transportation Private Ltd, a wholly-owned company subsidiary, has been chosen through an international competitive bidding process to take up the four-laning of Shivpuri-Dewas section of National Highway No 3 in Madhya Pradesh.
The road project is to be executed as BOT (Toll) project on Design, Build, Finance, Operate and Transfer pattern under the National Highways Development Programme (Phase IV) of NHAI. The company has received the Letter of Award from NHAI and expects to ink the Concession Agreement shortly.
The project entails the widening and strengthening of the two-lane highway to a four lane highway over a 332 km stretch. It has a concession period of 30 years including a construction phase of 30 months.
Another milestone
Mr G.V. Krishna Reddy, Chairman, GVK, in a statement said, “the winning of this major road project in Madhya Pradesh marks yet another milestone for GVK. With this new project, we will develop one of India's busiest highways to meet the growing road transport needs in Central and Northern India.”
The project road on National Highway No 3 is one of India's major corridors referred to as Mumbai-Agra highway. It is a vital trade link connecting Western and Central India to Northern India and passes entirely through Madhya Pradesh carrying predominantly long distance freight traffic.
The Hyderabad-based infrastructure company has implemented India's first six-lane toll road project 90 km long between Jaipur-Kishangarh on NH 8, part of NHAI's Golden Quadrilateral and is developing two toll road projects. The company has a portfolio of four toll road projects of over 600 km.
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.