IJM (India) Infrastructure (IJMII) has signed a Rs 570-crore project with the National Highways Authority of India (NHAI) to build a 93-km four-lane toll way on National Highway 45.
IJMII is a wholly owned subsidiary of Malaysian construction company IJM. IJMII and Afcon Infrastructure, a subsidiary of the Mumbai-based construction group Shapoorji Pallonji & Company, have entered into a 50:50 joint venture to build the road. IJMII will build 45 km of the road and Afcon the rest. The Shapoorji Pallonji Group and IJM are the promoters for the project. IJMII is the engineering procurement contractor.
The project bagged on Build-Operate-Transfer (BOT) terms will extend from Ulundurpet (Near Tindivanam) to Perambalur (near Tiruchi) in Tamil Nadu. The joint venture will get a concession from the Government to operate and maintain the road for 27 years. IJMII will start work on the project by January 2007.
The IJM - Afcon joint venture bagged the offer with a grant of Rs 40 crore. Recently, IJMII bagged a hard cash contract from the Delhi Municipal Corporation for constructing a convention centre to host the 2010 Commonwealth Games. This is poised to become the tallest building in New Delhi, said Mr Agarwal, who did not give other details on the project.
Currently, the company is working on a 110-km NH8 stretch connecting Jaipur and Mathura, besides developing a residential complex in Hyderabad spread over 35 acres.
IJMII has in the past constructed the Mumbai-Pune expressway, Tambaram bypass road (in Tamil Nadu) and a road connecting Tada (on the Tamil Nadu- Andhra Pradesh border) to Nellore (in Andhra Pradesh).
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| Posted : 7/1/2006 |
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