Sadbhav Infrastructure today said it has been declared the lowest bidder by National Highways Authority of India (NHAI) for two of its projects in Gujarat at a bid price of Rs 1,389 crore.
The company has been declared 'L1 bidder' for four-laning of Bhavnagar-Talaja and Una-Kodinar sections of NH 8E in Gujarat, Sadbhav Infrastructure said in a BSE filing.
Both the projects would be executed under the hybrid annuity mode under National Highways Development Project (NHDP), it said.
Under the hybrid annuity mode, the government provides 40 per cent of the project cost while the developer has to arrange for the remaining 60 per cent.
The company said its bid price for Bhavnagar-Talaja section was Rs 786.95 crore, while for the Una-Kodinar project it was Rs 602.51 crore.
The 89 km projects are scheduled to be completed in 910 days, it said.
