LANCO bags two toll road projects in Karnataka

August 4, 2008

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LANCO Kondapalli Power Pvt Ltd, a subsidiary of LANCO Infratech Ltd, has bagged the contract for construction and operation of two road projects in Karnataka on Build, Operate and Transfer (BOT) basis under the National Highways Development Project (NHDP) Phase III.

The company has formed two Special Purpose Vehicles (SPVs) – LANCO Hoskote Highways Pvt Ltd and LANCO Devihalli Highways Pvt Ltd for undertaking the projects. The concession agreements for the projects have been signed with the National Highways Authority Ltd. The two road projects are the 81 km Bangalore-Hoskote-Mudbagal stretch on National Highway 4 and 82 km Neelamangla – Devihalli stretch on National Highway 48. The project involves six laning of 16 km stretch and four laning of the remaining stretches. The total project cost is estimated at Rs 1,006 crore. The concession periods are 20 and 25 years for the two projects respectively, including 30 months of construction period. The contracts have been awarded through a competitive bidding process.

LANCO Group is one of the fastest growing corporate entities in India. LANCO has more than two decades of experience operating in the core sectors of Power Generation, Power Trading, Realty, Engineering and Construction, Information Technology and Manufacturing. At present, the power portfolio includes an operating capacity of 518 MW and additional capacities under construction aggregating to more than 3,200 MW. The Construction and EPC division of the company is executing various orders worth more than Rs 7,500 crore. LANCO is also developing LANCO Hills, one of the largest integrated township properties in Hyderabad, which will have a developed area of more than 30 million square feet and one of the tallest residential towers in the world. The development of the property is estimated to cost Rs 5,500 crore.

Source: moneycontrol.com

Written by ITW Editor · Filed Under Investment and Finance

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