On track: IRB, GMR bag big-bang road projects
Mumbai-based infrastructure major IRB Infrastructure Developers on Friday emerged as the lowest bidder for the development of 102-km stretch between Amritsar and Pathankot under the National Highway Development Plan.business Updated: Jun 19, 2009 21:19 IST
In what could be termed as a recovery of sorts of for the roads sector, Mumbai-based infrastructure major IRB Infrastructure Developers on Friday emerged as the lowest bidder for the development of 102-km stretch between Amritsar and Pathankot under the National Highway Development Plan.
Meanwhile, Bangalore based GMR-led consortium has won a Rs 1100-crore contract for the 29-km Chennai Outer Ring Road.
IRB Infrastructure Developers would complete the 102-km stretch at an estimated cost of Rs 1,200 crore and the project is expected to be completed in two-and-a-half year.
“The track record of timely payments, successful and proper implementation of projects plays critical role in highway development,” said VD Mhaiskar, chairman and managing director, IRB infrastructure Developers. IRB has an order book size of Rs 5,900 crore.
The company has also won as the lowest bidder for the project of four-laning of NH-4A from Goa to Karnataka border, covering a distance of 84 km.
The company is already operating on a continuous stretch of 415 km of highways from Pune to Bharuch via Mumbai, Vapi and Surat, through its projects : Mumbai-Pune (build-operate-transfer (BoT) (111 km), Dahisar-Surat BoT (239 km) and Surat-Bharuch (65 km), accounting for 7.5 per cent of the Golden Quadrilateral project.
The GMR Group led consortium recently won the contract for the 181-km long Hyderabad-Vijayawada stretch.
“We are planning to bid for every upcoming highway project and have earmarked Rs 10,000 for this financial year,” O Bangaru Raju, managing director, GMR Highways Private Limited and director, GMR Infrastructure Limited told Hindustan Times.
If the government reduced excise and customs duties on heavy engineering equipment, it would help faster execution of projects, he said.