Tamil Nadu Road Development Company (TNRDC) has declared Ashoka Buildcon Consortium as the successful bidder for Rs 985.44 crore project. The project is for development of Chennai Outer Ring Road Phase II from Nemilicheri in NH 205 to Minjur in Thiruvottiyur - Ponneri - Panchetti (TPP) Road on Design, Build, Finance, Operate and Transfer (DBFOT) Annuity basis at Chennai. The project is on Annuity Basis with a Concession Period of 20 years.
Earlier, Ashoka Buildcon along with GVR Infra Projects, as a 50:50 Consortium had submitted its bid to TNRDC.
Ashoka Buildcon builds and operates roads and bridges in India on a build, operate and transfer (BOT) basis. It currently operates one of the highest numbers of toll-based BOT projects in India.
