Reliance Infrastructure wins Rs925-cr highway project

Reliance Infrastructure Ltd (RInfra) has bagged its tenth road project, worth Rs925-crore, from the National Highways Authority of India (NHAI). It has won the Hosur-Krishnagiri road project in Tamil Nadu connecting Bengaluru-Chennai and Bengaluru-Salem.

RInfra won the project from among 15other bidders based on highest premium amount of Rs66.90-crore. Other bidders were GVK Infra projects, IVRCL Infrastructure and Projects, L&T, GMR and Gammon.

The project is being developed on Design, Build, Finance, Operate and Transfer (toll) basis with a concession period of 24 years, including the construction period.

The company plans to increase its current portfolio to Rs20,000-crore by 2012 from the current Rs8,725-crore.