A subsidiary of GVK Power & Infrastructure Ltd, and construction major L&T have signed a pact for execution of a Rs 1,937-crore order for a road project in Madhya Pradesh.
The GVK group has awarded the contract to L&T to execute the road project on design, engineering, procurement and construction basis of a four-lane road of Shivapuri-Dewas section of National Highway-43 in Madhya Pradesh spread over a stretch of 235 km. According to the arrangement, the project has to be completed in 27 months.
This road project is part of the phase IV of the National Highway Development Programme. This road project is among three mega projects of NHAI. L&T is associated with all of them.
The project is being implemented by GVK Shivpuri Dewas Expressway Pvt Ltd, a step-down subsidiary of GVK. The concession agreement for the project was signed last month with National Highways Authority of India. The concession period for the project is for 30 years including construction period of 30 months.