GMR starts 2 road projects; expects Rs 1 cr/day revenue
GMR Infrastructure said commercial operations of two its road projects Hyderabad-Vijayawada section of NH9 (National Highway 9) and Hungund-Hospet section of NH13, are expected to generate a total revenue of at least Rs 1 crore on a daily basis.
December 20, 2012 / 17:23 IST
GMR Infrastructure said commercial operations of two its road projects Hyderabad-Vijayawada section of NH9 (National Highway 9) and Hungund-Hospet section of NH13, are expected to generate a total revenue of at least Rs 1 crore on a daily basis. While the Hyderabad-Vijayawada road is expected to generate revenue in the range of Rs 75-80 lakh per day, Rs 18-20 lakh would be collected through toll from the second road project.
With the commencement of these two projects, the Group has now a portfolio of eight operating highways, the company said in a statement. The Hyderabad-Vijayawada four laning project was awarded through an international competitive bidding by NHAI on a design, build, finance, operate and transfer (DBFOT) basis with a concession period of 25 years including a construction period of 2.5 years.Thus, the highway is expected to provide stimulus to the local pharma and cement industries apart from the local agricultural produce and poultry farms. The corridor shall play a vital role in the economic development of the region, it said.Also Read: Nepal allows GMR to raise paid-up capital in hydro projects Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
