GMR Infra gains 4%, bags freight corridor project of Rs 2280cr

Moneycontrol BureauShare of GMR Infrastructure advanced 4 percent intraday Wednesday as GMR-led consortium has bagged 221 km of eastern dedicated freight corridor project.The company has been awarded two more packages for construction of 221 km long eastern dedicated freight corridor railway project at a cost of Rs 2280.70 crore on EPC basis.The project is funded by World Bank, which is divided into two packages. The first package comprises of 175 km single line connecting Sahnewal and Pilkhani that passes through Uttar Pradesh, Haryana and Punjab.The other package is a 46 km double line corridor in Uttar Pradesh connecting Dadri and Khurja.The scope of work includes design and construction of civil, structures and track works for single/double line on design-build lump sum basis. According to a company spokesperson, "Both the packages under the project are expected to be completed in 44 and 36 months respectively."At 09:56 hrs GMR Infrastructure was quoting at Rs 11.88, up Rs 0.36, or 3.13 percent on the BSE.Posted by Rakesh Patil