GVK emerges as frontrunner to develop and operate Shivpuri-Dewas national highway in MP

NEW DELHI: GVK has emerged as the frontrunner to develop and operate the 330 km stretch Shivpuri-Dewas national highway in Madhya Pradesh.

The Rs 2,815 crore project had received responses from 14 bidders on opening of the bids. The bidders included Indian construction majors like Reliance Infrastructure, Gammon Infrastructure, L&T Infrastructure Development Infrastructure amongst others.

GVK emerged as the best bidder by offering an annual premium of Rs 180.9 crore to NHAI. “The premium will increase by 5 per cent every year during the concession period of 30 years,” sources from Ministry of Road, Transport and Highways said.

During the concession period, the company will develop and operate the stretch; and collect toll from all vehicles that use the highway.

In the current financial year, NHAI has announced to award 59 projects covering 7,994 km with a total cost of around Rs 60,000 crore. However, the government feels that the demand is huge and they aim to award more than the set target.