Madhucon bags Rs 820cr NHAI project

July 12, 2006

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Madhucon Projects has signed a concession agreement with the National Highways Authority of India (NHAI) for laying over 126 km stretch of road between Madurai and Tuticorin on build, operate and transfer (BOT) basis.

The Rs 820-crore toll road project is scheduled to be completed in 36 months with a concession period of 20 years and with a positive grant of Rs 145 crore, which is payable by NHAI.

Following this agreement, Madhucon will be executing four BOT projects for NHAI – three in Tamil Nadu and one in Rajasthan. The combined cost of the four projects is estimated at Rs 1,800 crore, according to an official release issued by thecompany today.