GVK Transportation, a subsidiary of GVK Power and Infrastructure, will commence work on a Rs 2,815 crore project awarded by the National Highways Authority of India for four—laning of a road in Madhya Pradesh in the next financial year (FY’13), a company official said.
Last week, National Highways Authority of India (NHAI) awarded four highway projects worth Rs 9,500 crore, including a Rs 2,815 crore project for four—laning of the Shivpur—Dewas section in Madhya Pradesh, to GVK Transportation Ltd.
“The project would start in the next financial year... The financial closure would take place in the next six months,” GVK Power and Infrastructure Chief Financial Officer, Mr Isaac George, told PTI.
The 330 km long road will be built under Phase—IV of the National Highways Development Project (NHDP) on a BOT (build, operate and transfer) basis in a DBFOT (design, build, finance, operate and transfer) pattern.
At present, the company is engaged in construction work on the Deoli—Kota Expressway and Bagodara—Vasad—Tarapur Highway.
The other three projects awarded by NHAI to GVK Transportation include the Kishangarh—Udaipur—Ahmedabad road stretch, the Orissa border—Aurang road section and the Hospet—Bellary road project.
NHAI has announced the award of 59 projects with a cumulative length of 7,994 km this fiscal at a total cost of about Rs 60,000 crore.
National highways constitute 70,548 km of the total 3.3 million km of roads in the country. The government plans to build an additional 35,000 km of roads in the country by 2014.