Construction giant Larsen and Toubro (L&T) has successfully bagged the tender for revamping the road stretch between Shivapuri- Dewas section of the National Highway – 43 in Madhya Pradesh. The road contract for four-laning would see the firm making investments of `1,937 cr.
The contract was secured from the GVK Power & Infrastructure Ltd, an arm of the GVK group, on the basis of EPC implementation and has a completion deadline of 27 months. The contract outlines the construction ofa four lane highway of 235 kms and is one segment of phase IV of National Highway Development Programme (NHDP)—a three stage mega road project of NHAI with which L&T is associated.
The implementation of the project is handled by GVK Shivpuri Dewas Expressway Private Limited, a step down ancillary of GVK. GVK has also penned a concession agreement with NHAI, which provides a concession period of 30 years including construction time of 30 months.