GVK Power and Infrastructure Ltd has announced that GVK Transportation Pvt Ltd, a wholly owned subsidiary, has been chosen through an international competitive bidding process to take up the four-laning of Shivpuri-Dewas section of National Highway No 3 in Madhya Pradesh.
The road project is to be executed as BOT (Toll) project on Design, Build, Finance, Operate and Transfer pattern under the National Highways Development Programme (NHDP) Phase IV of NHAI. The company has received the Letter of Award from NHAI and expects to ink the Concession Agreement shortly.
The project entails the widÂening and strengthening of the two-lane highway to a four lane highway over a 332 km stretch. It has a concession period of 30 years including a construction phase of 30 months.