Sion-Panvel expressway – IVRCL bags the Project
IVRCL Infrastructure & Projects, in a joint venture with another company, has emerged as the lowest bidder for the 25 km Sion-Panvel expressway. The project cost has been pegged at around Rs 2,000 crore and has a concession period of 18 years and nine months. IVRCL beat Reliance Infrastructure to bag the project.
The project envisages expanding the existing bitumen road into a 10-lane concrete expressway between the BARC junction at Sion and the Kalamboli junction at Panvel with three flyovers and 10 underpasses. The project would be executed on a build-operate-transfer (toll) basis, the report added.
The Sion-Panvel expressway project will be the fourth BOT one for the Hyderabad-based infrastructure construction major. The company has one annuity and three toll projects, with revenues from all of them accruing from the December quarter onwards, the media report stated.
Comments
Leave a Reply