Gammon Infrastructure lowest bidder in Rs 2000 cr road projects

MUMBAI: Gammon Infrastructure Ltd is the lowest bidder for 2 road projects worth Rs 2000 crores. The Mumbai based company said both the projects are on a built-own-operate-transfer basis and each is worth Rs 1000 cr.

The first project is a 102 km Sidhi Singhruli road project based in Madhya Pradesh. This 4 laning road project is awarded by the Madhya Pradesh Road Development Corporation. The second road project is a 107 km NHAI project connecting Birmitrapur - Barkote in Orissa.

Both projects have concession period of 23 years apart from construction time of 2.5 years.

When contacted, Kishor Kumar Mohanty, MD of Gammon Infra confirmed the lowest bidder status on both the projects. He expects to get the letter of intent before March.

The stock hit a high of 16.4% post the story being broken on ET Now. At 12:40 p.m., shares of the company were trading 12.5% higher at Rs 13.75.