L&T bags Rs1,450 cr order from NHAI
15 May 2010
Engineering and construction major Larsen & Toubro (L&T) has bagged a Rs1,450-crore order from National Highways Authority of India (NHAI) for a road project in Tamil Nadu.
L&T Krishnagiri Walajahpet Tollway Private Limited, an SPV incorporated by Larsen & Toubro (L&T) has signed a concession agreement with the NHAI to widen the existing four lane stretches of the golden quadrilateral (GQ) to six lanes, as part of Phase-V of the national highways development programme (NHDP) and NHAI programme.
The project involves laning of six roads of 148.30km on the Krishnagiri-Walajahpet Highway of NH 46 to be executed on a BOT DBFO (design, build, finance and operate) basis, with a concession period of 30 years.
The project is scheduled to be completed within a period of 30 months.
L&T said in a company statement it would collect toll from the users of the highway during the concession period, including the construction period.
This corridor connects Chennai and Bangalore in south India, and caters to both commercial and passenger movement between the two cities.
With this project, L&T currently has 14 projects in its BOT Roads portfolio, out of which seven are presently in operation phase, 5 in construction phase, and 2 in development phase, thus cumulating in a length of 5500 lane-km, and a total investment of Rs13,000 crore.
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