GR Infraprojects Ltd, construction engineering firm, has announced it has emerged as the lowest bidder to construct a 33.5-km stretch of the greenfield Varanasi-Ranchi-Kolkata highway in Bihar, at a cost of ₹12.5 bln, via an exchange filing.
The National Highways Authority of India (NHAI) is building the roadway as part of the Center's Bharatmala initiative.
Construction on the project, which is being funded in the hybrid annuity manner, is expected to be finished by GR Infraprojects 730 days after the appointed date.
According to the regulatory filing, the company will run the stretch for 15 years following the start of commercial operations.
The shares of GR Infraprojects were up 2.25% on NSE at ₹1,054.90, at 13:22 IST.
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