For the road development project of Chennai Outer Ring Road Phase II, Ashoka Buildcon company along with GVR Infra Projects has formed a consortium of 50:50 per cent and submitted a bid to the Tamil Nadu Road Development Company (TNRDC). The Ring Road Phase II is to be constructed from Nemilicheri on NH 205 to Minjur on Thiruvottiyur-Ponneri-Panchetti (TPP) Road on design, build, finance, operate and transfer (DBFOT) annuity basis.
The project is on annuity basis with a concession period of 20 years and the cost of the Project is Rs 985.44 crore. Tamil Nadu Road Development Company has declared the Consortium as a 'Selected Bidder' for the ring road Project on July 02.