The GMR Infrastructure-led consortium has bagged Hyderabad-Vijayawada highway project, estimated to be pegged at about Rs 2,000 crore, from National Highways Authority of India though international bidding route.
The group has received letter of award from National Highways Authority of India yesterday.
"The consortium, led by GMR Infrastructure, has won the Hyderabad-Vijaywada highway project on a built, operate and transfer (toll) basis though international bidding route," the company said in a filing to the Bombay Stock Exchange.
GMR did not disclose any financial detail in this regard.
However, NHAI officials said, the project cost of the project is valued at close to Rs 2,000 crore.
The project entails designing, engineering, finance, procurement, construction, operation and maintenance of the 181 km stretch on Hyderabad-Vijayawada section on NH-9 in Andhra Pradesh.
This is the seventh highway project of GMR Group after successfully completing six projects as per schedule, Bangaru Raju, Managing Director, GMR Highways Ltd said.
The Project will be implemented through a Special Purpose Vehicle (SPV) set up by the group which will be signing the concession agreement with the NHAI for a period 25 years. All activities leading to the concession agreement signing have been initiated, Raju added.
The group has received letter of award from National Highways Authority of India yesterday.
"The consortium, led by GMR Infrastructure, has won the Hyderabad-Vijaywada highway project on a built, operate and transfer (toll) basis though international bidding route," the company said in a filing to the Bombay Stock Exchange.
GMR did not disclose any financial detail in this regard.
However, NHAI officials said, the project cost of the project is valued at close to Rs 2,000 crore.
The project entails designing, engineering, finance, procurement, construction, operation and maintenance of the 181 km stretch on Hyderabad-Vijayawada section on NH-9 in Andhra Pradesh.
This is the seventh highway project of GMR Group after successfully completing six projects as per schedule, Bangaru Raju, Managing Director, GMR Highways Ltd said.
The Project will be implemented through a Special Purpose Vehicle (SPV) set up by the group which will be signing the concession agreement with the NHAI for a period 25 years. All activities leading to the concession agreement signing have been initiated, Raju added.
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