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Gayatri Project to commission 5 roads by March
Hyderabad-based Gayatri Projects will have five operational highways, together worth Rs2,000 crore, by the end of the fiscal, said managing director T V Sandeep Reddy.
Updated : Mar 30, 2018, 03:31 AM IST
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Hyderabad-based Gayatri Projects will have five operational highways, together worth Rs2,000 crore, by the end of the fiscal, said managing director T V Sandeep Reddy.
These will be the first road projects of the company to be commissioned.
Three of the five projects, with a project cost of `1,235 crore, are in Uttar Pradesh. While one is an 83-km stretch between Meerut and Muzaffarnagar, the other two are in Jhansi and Lalitpur, each 50-km-long.
Gayatri is also looking to commission two roads, worth about `800 crore, in Hyderabad by March.
All the projects, except the Meerut one, are on an annuity basis.
A build-operate-transfer (BOT) toll project is one where a developer builds the project, operates it for a specified period, earns revenues through toll and returns it to the government.
An annuity project, on the other hand, is the one where the developer, instead of charging toll, gets paid by the government periodically.
Gayatri is developing two other projects. One is a `2,200 crore, 207-km road between Hyderabad and Ramagundam and the other a `660 crore, 45-km national highway stretch between Indore and Dewas in Madhya Pradesh. The company is planning to rope in a strategic partner for the former project.
“We will tie up funds for the projects by December and commission them by December,” said Reddy. Of the company’s road portfolio, four are national highways and three state highways.
Gayatri Projects has an order book of about `7,000 crore and is also developing a 1,320 mw thermal power project in Krishnapatnam in Andhra Pradesh. The company has plans to double the capacity there.
