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GMR to undertake the development of Chennai Ring Road venture

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GMR Infrastructure Ltd. has grabbed the Chennai ORR ventures in Tamil Nadu from State Govt. for Rs. 1,500 Crores and this is the 8th road venture and first state highway ventures grabbed by the firm’s Highways Division, added the source at the www.propertykhazana.com. GMR group appeared as the lowest bidder in a global viable bid for 30 km Chennai ORR venture in Tamil Nadu from Vandalur to Nemilicheri segment on a plan, construct, funding, work and transfer on income basis. The letter of award is likely to be given in the coming days and under this venture, the firm will get an allowance for 21 years in which it comprises a construction time of one month.
Managing Director of GMR Highways Private Ltd. said to www.propertykhazana.com that, “This Greenfield venture will surely give soft flow of traffic and will be constructed with superlative values. Once it is finished it will favor with a great raise to realty development and trade & commerce in the area.” Till now GMR Group has executed 6 national highway ventures according to the list and in previous month, a group led by GMR Infrastructure had won 182 km which 6-lane of Hyderabad – Vijayawada Highway venture on a toll basis by international competitive bidding way from NHAI. For more updates on realty market browse www.propertykhazana.com.
Source: NBTVLIVE

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