The National Highways Authority of India (NHAI) today awarded Rs 835 crore road project on Madhya Pradesh-Maharashtra border to a consortium — HCC-Laing -Sadbhav.
"The project involves 4 laning of 89 km-long existing 2 lane National Highway. The total project cost is Rs 835 crore and the agreement involves revenue sharing by concessionaire with NHAI..." the road development authority said in a statement.
The project has been awarded under build-operate-transfer (BOT) basis under NHAI phase III. The concession period is 18 years including 910 days of construction period, the statement added.
The project also involves construction of three major bridges and 38 minor bridges.
