A consortium led by GMR Infrastructure has bagged a highway development project in Karnataka, entailing an investment of Rs 1,700 crore.
The project, involving four-laning of 99 km stretch on National Highway-13, has been bagged on a build-operate- transfer (BOT) basis by the consortium, GMR said in a statement.
While GMR Infrastructure holds 51 per cent stake in the consortium, Oriental Structural Engineers has 49 per cent share.
The project has a concession period of 19 years for which the consortium will maintain the road and collect toll.
This is the ninth road project bagged by the GMR Group. It is currently developing two projects with a total length of 211 kms.