GVK gets highway contract

GVK gets highway contract

Mumbai: Infrastructure developer GVK group won a contract to convert the Shivpuri-Dewas section of National Highway 3 (NH3) in Madhya Pradesh into four lanes from two.

The 332 km project is part of phase four of the National Highways Development Programme of the National Highways Authority of India.

The “concession agreement would be signed shortly,’’ GVK said in a release on Monday. It didn’t mention the size of the project or details on funding. The concession period is 30 years, including 2.5 years for construction.

NH 3, one of India’s major routes and commonly referred to as the Mumbai-Agra highway, is a vital trade corridor connecting west and central India to the north.

GVK has a portfolio of four toll road projects. Last week, rival GMR group won the mandate to widen 555 km of national highway, a project that will cost at least Rs6,000 crore.