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A consortium comprising Ashoka Buildcon (51 per cent) and GVR Infra Projects Ltd (49 per cent) have emerged as the lowest bidder for Karnataka State Highways Improvement Project - II (KSHIP) road project.
In a notice to stock exchanges, Ashoka Buildcon said the road project is on annuity basis through the design, build finance, operate, maintain and transfer (DBFOMT) mode.
The road is a state highway (SH 18) in Karnataka which connects Mudhol (in north Karnataka) to Maharashtra border with a total length of 107.937 km.
The road project is on annuity basis with the concession period of 10 years and KSHIP-II cost of the project is Rs 317.60 crore. The consortium emerged as ‘lowest bidder’ at the bid opening meeting held on December 5 at Bangalore.
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