GMR Infrastructure today said the company-led consortium has bagged an order from National Highways Authority of India (NHAI) for a 181 kms road project in Andhra Pradesh.
"The consortium, led by GMR Infrastructure, has won the Hyderabad-Vijaywada highway project on a built, operate and transfer (toll) basis though international bidding route," the company said in a filing to the Bombay Stock Exchange.
The company did not disclose any financial detail in this regard.
However, according to NHAI officials, the project cost of the Hyderabad-Vijaywada highway is valued at Rs 1,740 crore. This project is for 181 kms on the national highway 9.
The contract includes the works related with designing, engineering, finance, procurement, construction, operations and maintenance of the road, the company said.
According to GMR Infra, the project would be implemented through a special purpose vehicle (SPV) set up by the GMR Group. The SPV would sign a concession agreement with the NHAI for a period of 25 years.
"The project connects two major economic hubs of Andhra Pradesh, which are witnessing multi-fold growth. It is also a vital link in facilitating Kolkata-Bangalore traffic movement," GMR Infra director O Bangaru Raju said.
Shares of GMR Infra closed at Rs 162.70, down 0.67 per cent on the BSE.
