Infrastructure major GVK has bagged the Rs4,000-crore project for four-laning of the Shivpuri-Dewas section of National Highway 3 in Madhya Pradesh awarded by the National Highway Authority of India (NHAI).
The four-laning of the 322-km-long stretch will be undertaken by GVK Transportation, a wholly-owned subsidiary of the group. The toll project would be executed on a design, build, finance, operate and transport (DBFOT) basis in the fourth phase of the National Highways Development Programme.
The company has been offered a concession of 30 years, including 30 months for construction.
"The winning of this major road project marks yet another milestone for us," said G V Krishna Reddy, chairman. "With this new project, we will develop one of the busiest highways, to meet the growing road transport needs in the central and northern regions of the country."
NH-3 (popularly known as the Bombay-Agra highway), is one of the busiest arteries in India, linking western and central parts of the country to the north. "The project passes entirely through Madhya Pradesh carrying predominantly long-distance freight traffic and is expected to offer high growth potential for commercial traffic," said Reddy.
The company has executed the 90-km, Jaipur-Kishangarh expressway, which forms part of the golden quadrilateral National Highways Development project. The project involved conversion of a two-lane track to a world-class six-lane highway and cost $154 million.
It was completed in a record time and today handles nearly 20,000 vehicles daily. Daily toll collection adds up to Rs40 lakh. GVK operates the highway and has installed cutting-edge technology for tolling operations.