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| Edited By: KV Ramana |Source: DNA |Updated: Mar 18, 2018, 04:08 AM IST
IVRCL Assets & Holdings Ltd, a subsidiary of infrastructure major IVRCL Ltd, has bagged a major road project of about 311 km jointly with another Hyderabad-based infrastructure company Sushee Infra Pvt Ltd.
The annuity project valued at Rs1,488 crore has been awarded to the Sushee-IVRCL consortium by the Union Ministry of Road Transport and Highways.
The project involves widening of existing road to two-lane NH standards along with improvement and realignment from Nechipu to Hoj via Seppa, Khodaso, Sagggalee, which is a part of Trans Arunachal Highway under the Arunachal Pradesh package of roads and highways on design, build, finance, operate and transfer (DBOFT) basis.
According to the company, the ministry would provide a cash support of Rs1,004 crore to the concessionaire for implementing the project.
The concession period for the project is 17 years from the appointed date and the project is slated to be completed within four-and-a-half years.
Following its partnership with Sushee, IVRCL Assets would hold 26% stake in the special purpose vehicle and the parent company - IVRCL - would undertake part of the construction work of the proposed road.
