GMR to bid for projects worth Rs 30,000 cr

Infrastructure major GMR has said it will bid for 10 forthcoming road development projects in various parts of the country, worth around Rs 30,000 crore.

"About 10 projects for making roads into four and six lanes are coming up in different places, including Surat and Chennai, for which we will bid," said GMR group Chief Finance Officer Madhu Terdal.

He said the overall value of the projects put together could be around Rs 30,000 crore. "Of these, we are confident of bagging at least two to three projects," Terdal added.

The Bangalore-based group had already tied up funds for all the four new road schemes worth Rs 2,347 crore it was undertaking, he said. "We have started construction and implementation of these projects," Terdal added.

The projects include Ambala-Chandigarh (35 km), Farukhnagar-Jadcherla (58 km), Adloor Yellareddy-Pochanpalli (102 km) and the Tindivanam-Ulundurpet (73 km).

In the nine months period ended December 2006, the GMR group had posted a revenue of around Rs 110 crore from its road infrastructure business, he added.

The group had entered into the roads sector when the government invited bids to develop roads under the Golden Quadrilateral Scheme in early 2000.

It has already completed converting the highways between Tuni and Anakapalli on NH-5 (60 km) in Andhra Pradesh and between Tambaram and Tindivanam (93 km) in Tamil Nadu into those with four lanes.