GMR Infra emerges L1 bidder for Rs 5,000 crore Eastern Dedicated Freight Corridor project

A consortium led by GMR Infrastructure Limited (GIL) has emerged as lowest bidder in international competitive bidding for two packages of Eastern Dedicated Freight Corridor project involving construction of 417 km long double track railway line from Mughalsarai to new Bhaupur (near Kanpur) on EPC basis.

The Eastern Dedicated Freight Corridor extends from Ludhiana to Dankuni near Kolkata. Dedicated Freight Corridor Corporation of India Limited (DFCCIL) received five bids for the project wherein the GIL led consortium quoted a price of Rs 5,080 crore. The award of work will be subject to approval by DFCCIL.

"As part of Asset Light Asset Right strategy, GMR Group is not required to provide any equity for the project since it is to be implemented on EPC basis. The project is financed by World Bank through DFCCIL. The project is to be completed in 45 months after award," the company said in a filing to BSE.

GMR Infrastructure is implementing two railway projects for Rail Vikas Nigam Limited (RVNL) at present and has requisite experience to implement the project.