Financial Daily from THE HINDU group of publications
Wednesday, Jul 06, 2005
Industry & Economy - Infrastructure
NHAI awards Rs 580-cr project to Gammon consortium
New Delhi , July 5
THE National Highway Authority of India (NHAI) has awarded a Rs 580-crore project to Gammon-Sadbhav-Billimoria consortium.
The project involves four-laning of a 100-km highway stretch between Vadape and Gonde in Maharashtra.
"The project has been awarded on a build-operate-transfer (BOT) basis to the Gammon-Sadbhav-Billimoria consortium. The equity participation of Gammon, Sadbhav, and Billimoria is 70:20:10 ratio respectively," said official sources in NHAI.
The consortium is expected to complete the project by January 2009.
The agreement would be signed in August and NHAI allows another six months for financial closure.
Thus, starting January 2006, the consortium is expected to complete the BOT project in another 36 months.
The project was awarded on June 16, the sources said.
This month, NHAI aims to finalise the four-laning of a 36-km stretch of NH 21 and NH 22 between Ambala and Chandigarh with a project cost of about Rs 298 crore.
"We have already received tenders for the project," said an official, adding that the project is expected to be completed within 30 months.
In May-end, contract for four-laning of a 53-km road stretch between Jalandhar and Amritsar was awarded to IVRCL. "The project cost is Rs 263 crore," said the official.
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