Ashoka Buildcon Ltd has informed the Bombay Stock Exchange (BSE) that the Company along with GVR Infra Projects Limited, as a Consortium (50% : 50%) has been selected Preferred bidder  for the Development of Chennai Outer Ring Road Phase II DBFOT project.

The project has been awarded by the Tamil Nadu Road Development Company Ltd. (TNRDC) and it is on Annuity Basis with a Concession Period of 20 years. TNRDC cost of the Project is Rs. 985.44 Crores (US$161 million). The project will connect Nemilichery to Minjur over a distance of 32 km.

The project:

The 62-km ORR project links the peripheral areas of the city from Vandalur in the south, about 25 km from Chennai on NH 45, to Minjur to the north of Chennai.

The first phase of the project, 29.5 km linking Vandalur to Nazarathpet on NH 4 to Nemilichery on NH 205, is nearing completing in the public-private partnership mode at a cost of Rs 1,081.54 crore. The second phase of the project will connect Nemilichery to Minjur over a distance of 32 km.

Source: BSE