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GR Infraprojects Limited encountered a setback in its pursuit of two projects. The company had emerged as the lowest bidder (L-1) for the ‘development, operation, and maintenance of ropeway from Gaurikund to Kedarnath’ and the ‘development, operation and maintenance of ropeway from Govind Ghat–Ghangaria–Hemkund Sahib’ projects in Uttarakhand. However, the National Highways Logistics Management Ltd has announced the annulment of the ongoing bidding process for the ventures.
The first project — ropeway system from Gaurikund to Kedarnath — was estimated to cost Rs 1,875 crore under the hybrid annuity mode (HAM). The initial year’s operation and maintenance (O&M) cost was projected at a fixed rate of Rs 2 crore, with a variable cost of Rs 3 crore. The construction period was anticipated to be 1,460 days from the appointed date, followed by an operational period of 15 years from the commercial operation date.
Similarly, the second project — a ropeway connecting Govind Ghat, Ghangaria, and Hemkund Sahib — was estimated to cost Rs 1,738 crore under HAM. The initial year’s O&M cost was set at a fixed rate of Rs 2 crore, with a variable cost of Rs 2 crore. The construction period was projected to be 1,460 days from the appointed date, followed by an operational period of 15 years from the commercial operation date.
The shares were down by 3.66 per cent to Rs 1,204.15 at 12.20 pm on the BSE.
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