Ashoka Buildcon, GVR Infra bag Rs 985-cr road project in Tamil Nadu

MUMBAI: A consortium of Ashoka Buildcon and GVR Infra Projects has bagged a Rs 985.44 crore contract from the Tamil Nadu Road Development Company.

The contract relates to development of Chennai outer ring road (Phase II).

The 50:50 consortium will develop the project on design, build, finance, operate and transfer basis, a release said here today.

The project is on annuity basis and has a concession period of 20 years, it said.

"We are proud to be the selected bidder for this prestigious project. We at Ashoka Buildcon and GVR Infra are confident of completing the job well and within the deadline," Ashoka Buildcon Managing Director Satish Parakh said.