Madhucon Projects has signed a concession agreement with the National Highways Authority of India (NHAI) for highway road project between Madurai and Tuticorin in Tamil Nadu. The Rs 820-crore project envisages laying the stretch between 138.8 km to 264.5 km of NH 45B under the build, operate and transfer (BOT) toll road. The project is estimated to be completed in 36 months with a concession period of 20 years and a positive grant of Rs 145 crore.
With this project Madhucon has signed four BOT national highway projects of 330 km worth around Rs 1,800 crore. Of these three are in Tamil Nadu and one in Rajasthan, with a total positive grant of Rs 410 crore. All these are under execution.
The financial closure of the first project in Rajasthan between Bharatpur and Mahua costing Rs 300 crore with a 25-year concession period has already been achieved. The concession agreement for the second project between Karur and Dindigul in Tamil Nadu on NH-7, costing Rs 360 crore has been signed. For the third project between Tiruchi and Thanjavur on NH-67, with an investment of around Rs 340 crore, a concessional agreement was signed in June 2006.
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| Posted : 7/20/2006 |
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