L&T wins massive NHAI project
March 19, 2010
The SPV incorporated by Larsen and Toubro on Friday, Mar 19 signed a Concession Agreement for the project with an estimated cost of about Rs 1400 crores.
The project would be executed on a BOT DBFO (Design Build Finance & Operate) basis with a Concession Period of 24 years and is expected to be completed by 30 months.
The Concessionaire is entitled to collect tolls from the users of the Project Highway during the Concession Period, including the Construction Period, the company informed in a statement.
The project is part of the NHAI's Phase V of the National Highways Development Programme (NHDP), under which the existing four lane stretches of the Golden Quadrilateral are being turned into six lanes.