The concession period for the Greenfield project is 40 years, which can be further extended to another 20 years through a bid process.
MEP Infrastructure holds 74 percent in the JV, while Sanjose India Infrastructure and Construction Pvt Ltd has 26 percent stake.
TV Sandeep Reddy, MD of the company, says the company will sell Jhansi and Lalitpur projects post getting commercial operational date (COD).
The company said the transaction is subject to closing adjustments and regulatory approvals and includes operational grants for the entire major maintenance period.
The Cabinet Committee on Economic Affairs (CCEA) last week approved one-time financial assistance for "physically incomplete and languishing" highway projects.
India Ratings has revised its Outlook on Indian construction companies to Negative for 2013 from Stable in FY12. This is due to continuing challenges in order execution which have resulted in stretched working capital.
India Ratings has revised its Outlook on Indian construction companies to Negative for 2013 from Stable in FY12. This is due to continuing challenges in order execution which have resulted in stretched working capital.
The government today approved a policy framework for private participation in rail connectivity and capacity augmentation of projects, besides addressing the first and last connectivity for entire freight commodity.
Sunil Agarwal, president and chief executive officer of ARSS Infrastructure Projects joins CNBC-TV18 to explain what the new BOT project the company bagged from Punjab Infrastructure development Board means for them, financially.
With a USD 2.2 billion order book to build nearly 4,000 km (2,500 miles) of road lanes across India and its bank credit tapped out, KMC Constructions turned to private equity for funding.