Reliance Infrastructure has won the Rs 590 crore Jaipur-Reengus highway project in Rajasthan from the National Highways Authority of India (NHAI). The project is expected to be completed by 2011. The company is currently implementing road projects worth Rs 4,500 crore and aims to increase its road portfolio more than four-fold to over Rs 20,000 crore by 2012.
Reliance Infra bagged the Rajasthan project on the basis of the lowest quote for grant at Rs 103 crore. The upgrade work of the 53 kilometre stretch will be implemented on a build operate and transfer (BOT) basis for a concession period of 18 years, including the construction period. After completion of the project, the company will earn toll through the remaining period before handing over the project to NHAI.
The deal is likely to be signed in a month and the construction will begin soon thereafter. Jaipur-Reengus contract is the seventh road project won by Reliance Infrastructure. With this, the company would be committing more than Rs 4,500 crore for the road sector. crackcrack
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