GMR Bags Rs 1,100cr Chennai Ring Road Project

June 20, 2009	(Be the first to rate this story!)  Loading ...
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Bangalore-based infrastructure major, GMR Infrastructure Limited, today bagged the Chennai Outer Ring Road project in Tamil Nadu from the state government for Rs 1,100 crore. This is the 8th road project and first state highway project bagged by the company’s Highways division since 2001. GMR-led consortium emerged as the lowest bidder in an international competitive bid for the 29.65 km Chennai Outer Ring Road project in Tamil Nadu from Vandalur to Nemilicheri section on a design, build, finance, operate and transfer on annuity basis. The letter of award is expected to be issued in the next few days, the company said in a press release.

Under this project, the company will get a concession for 20 years which includes a construction time of 30 months. Commenting on the project, O Bangaru Raju, managing director, GMR Highways Private Limited said, “This greenfield project will ensure smooth flow of traffic and will be constructedt with world class standards. Once completed this will give a tremendous boost to real estate development and trade and commerce in the region.” The GMR Group has so far completed six national highway projects as per schedule. Last month, a consortium led by GMR Infrastructure had won the 181 km, 6-laning of Hyderabad – Vijayawada highway project on a Build, Operate and Trasfer (Toll) basis thorugh international competitive bidding route from NHAI.

News Published Under:   Real Estate India, Chennai |

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