GVK has emerged as the frontrunner to develop and operate the 330 km stretch Shivpuri-Dewas national highway in Madhya Pradesh.

On opening of the bids here today, the company emerged as the best bidder by offering an annual premium of Rs 180.9 crore to NHAI. The premium will increase by 5 per cent every year during the concession period of 30 years, said sources in the know.

During this period, the company will develop and operate the stretch; and collect toll from all vehicles that use the highway.

The estimated cost of the project is Rs 2,815 crore.

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