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GMR Infra Team Bags Hyderabad–Vijayawada Highway Project
Posted by Pradeep Sadanapalli | June 16, 2009 | 1,651 views
(4 votes, average: 2.5 out of 5)
Loading ...The consortium led by GMR Infrastructure Ltd has won the 181 km Hyderabad–Vijayawada highway project to be executed on a Build, Operate and Transfer (Toll) basis through international competitive bidding process.
The Group received the Letter of Award from National Highways Authority of India (NHAI) on May 27. This is the seventh highway project of GMR Group.
The project is aimed at easing traffic congestion and also boosting trade and commerce. Apart from reduction in travel time, this development is expected to improve safety levels.
The project will be implemented through a Special Purpose Vehicle (SPV) set up by the Group after signing the concession agreement with the NHAI for a period of 25 years.
The Managing Director of GMR Highways and Director GMR Infrastructure, Mr O. Bangaru Raju, in a statement said “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.”
According to Government sources, the project is estimated to be valued at Rs 1,200 crore.
SOURCES:
Business Line
Topics: Infrastructure |
One Response to “GMR Infra Team Bags Hyderabad–Vijayawada Highway Project”
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November 24th, 2009 at 8:09 am
Hi Pradeep,
Sorry, this is the wrong thread. But I am aware that you have a land in Phoenix Port layout. I too own a piece of land in that layout.
Just wanted to know if you were able to sell it? What price did you get? If I want to sell it what can I expect now? How should I proceed with it?
Thanks for your efforts.
Best Regards,
G u r d e v P a r m a r