MSK Projects beats REL, Gammon for Rs 480-cr MP project
Infrastructure big-shots including Reliance Energy, Gammon India, Punj Lloyd and Shapoorji Pallonji have lost out to a lesser known consortium of MSK Projects, Chetak Enterprise and BSBK for the Rs 480- crore Bhopal-Dewas road project in Madhya Pr...
By Priyanka Talwar, TNN |
NEW DELHI: Infrastructure big-shots including Reliance Energy, Gammon India, Punj Lloyd and Shapoorji Pallonji have lost out to a lesser known consortium of MSK Projects, Chetak Enterprise and BSBK for the Rs 480- crore Bhopal-Dewas road project in Madhya Pradesh.
The Madhya Pradesh Road Development Corporation (MPRDC), which opened the bids for the road project last week, came in for surprise as all the probable winners sought higher grant for the project compared to the consortium. Reliance Energy emerged second-lowest bidder for the project.
���The Rs 480-crore Bhopal-Dewas road project has a subsidy component of Rs 81 crore. The entire subsidy amount demanded by the developers will be met by the Centre,��� MPRDC deputy general manager Neeraj Vijay said. The proposed state highway, comprising 143 km, would take 30 months to be completed.
The four-laning of the Bhopal-Dewas state highway, once completed, will ease the heavy traffic congestion on the route. It will also reduce time taken between Bhopal and Indore from around five hours at present to just three hours. The Indore-Dewas stretch is already four-laned. Dewas lies mid-way between Indore and Bhopal.
MPRDC will also be receiving a negative grant of Rs 1,438 crore for the 126-km long stretch of Jawra-Nayagaon. The project, to be developed at a minimum cost of Rs 500 crore, is soon to be awarded to a consortium of Ashoka Buildcon and IDFC. The negative grant would be paid over a period of 22 years, increasing at 5% per annum.
ADVERTISEMENT
���Reliance Energy is also in the race to bid for the Rs 500-crore Lebad-Jawra 126 km stretch. The last date for pre-qualification proposals is January 31,��� Mr Vijay said. Slated to be the state���s largest road sector projects, the projects will be developed through the BOT toll model. The km-based toll rates, ranging from Rs 0.33 per km for a car to Rs 3.93 per km for multi-axle vehicles, would be upwardly revised at 7% per annum.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
