Gayatri Projects looks for partner for Andhra partner road deal

Gayatri Projects, infrastructure developer is looking to rope in a strategic partner to handle a 207-km road project that was awarded to it by the Andhra Pradesh government.

The road project between Hyderabad and Ramagundam entails a cost of about Rs2,200-crore and includes four-laning of an existing two-lane road.

As the project is expected to be taken up on build, operate and transfer basis, the toll road is expected to be ready for commercial operations within 30 months from the date of achieving financial closure. Gayatri had submitted bids through a consortium with a DLF group company.

Gayatri is now working on floating a special purpose vehicle to accommodate the strategic partner in the project and achieve financial closure by November this year.