A consortium led by GMR Infrastructure has bagged a highway development project in Karnataka, entailing an investment of Rs 1,700 cr. The project, involving four—laning of 99 km stretch on National Highway—13, has been bagged on a build—operate— transfer basis by the consortium.
While GMR Infrastructure holds 51 per cent stake in the consortium, Oriental Structural Engineers has 49 per cent share. The project has a concession period of 19 years for which the consortium will maintain the road and collect toll. This is the ninth road project bagged by the GMR Group.