The Kolkata-based Srei International Finance has bagged a deal to finance the Delhi-Gurgaon Expressway of the Golden Quadrilateral project.
The project includes widening and conversion of the road into an 8/6 lane access controlled highway on build-operate-transfer (BOT) basis at a cost of Rs 547 crore.
The project has been awarded after competitive bidding to the consortium of Jaiprakash Industries and DS Construction, and would be implemented by Jaypee DSC Ventures.
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The project is unique as it was awarded on the basis of negative grant. Normally, projects based on grants are awarded on the value of the grant received. In this case, the sponsors of the project have agreed to pay the government.
The road to be constructed under the project runs from Rao Tula Ram Junction in Delhi (km 14.3) to the outskirts of Gurgaon. It would have eight flyovers as it is located in the country