Infrastructure company Gammon Infrastructure Projects stated today that the National Highways Authority of India (NHAI) has given the letter of award to the company for upgradation of NH-47.
The estimated cost of the project which is pegged at Rs 850 crore will be for improving the highway stretch from Patna to Muzaffarpur in Bihar and will fall under the National Highway Development Programme (NHDP) Phase III on build operate transfer (BOT) basis.
The project involves the upgrading the existing highway to a four lane dual carriageway starting from Ramashish Chowk and construction of a 16.87 km new bypass connecting NH-28 of east west corridor.
The concession period of the project is 15 years including the construction period of 2.5 years. Gammon will receive 25 semi-annual annuity of Rs 94.6 crore.
