The GVK Group has announced that it has been awarded the project for four-laning of Shivpuri-Dewas section of NH 3 in Madhya Pradesh.
The project will be executed as BOT (Toll) project on Design, Build, Finance, Operate and Transfer pattern under the National Highways Development Programme (Phase IV) of NHAI. Letter of Award for the project has been received from NHAI and the concession agreement would be signed shortly.
The project entails widening and strengthening of the two-lane highway to four- lane with a length of 332 km. It has a concession period of 30 years including a construction period of 30 months.
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 lies on National Highway No. 3, one of India’s major national highways referred to as Mumbai-Agra highway. It is a vital trade corridor connecting western and central India to northern India and passes entirely through Madhya Pradesh carrying predominantly long-distance freight traffic.
GVK's past projects include India’s first six-lane toll road (90 km long Jaipur-Kishangarh on NH 8, part of NHAI’s Golden Quadrilateral). It is currently developing two toll road projects. The company has a portfolio of four toll road projects of over 600 km.