Infrastructure player Gammon India's subsidiary GIPL today said it has bagged a Rs 1,684 crore project from NHAI for widening Vijaywada-Gundugolanu section of National Highway in Andhra Pradesh.
"The company has received the letter of award for the six-laning of the Vijaywada-Gundugolanu section of NH 5 in the state of Andhra Pradesh from the National Highways Authority of India (NHAI) on BOT (Toll) mode," Gammon Infrastructure Projects Ltd (GIPL) said in a statement.
The project cost as estimated by NHAI is Rs 1,684 crore, the company said, adding that the project will be built on design, build, finance, operate and transfer basis.
The company will pay a premium of Rs 57.57 crore per annum for the concession period, it said.
"The concession period of the project is 30 years including a construction period of 2.5 years," it added.
