Sadbhav Engineering Ltd, in
a joint venture with GKC
Projects Ltd, has been
awarded a road project by Jharkhand's
state road construction
department for the Govindpur-
Jamtara (Jamtara Bypass) -
Package-I under the ADB-funded
Govindpur-Sahibganj state
road project. The contract is valued
at Rs.30 crore. Sadbhav will
hold 50 per cent share in the JV.
The scope of work involves
improvement, upgradation,
strengthening and widening of
the Govindpur-Sahibganj
stretch, a distance of 80.63 km.
The other three packages of the
Govindpur-Sahibganj state road
project for which tenders are to be
awarded are: the Jamtara-Dumka
Road (Dumka Bypass) Package-II
(81.75 km), Dumka-Barhet Road
Package-III (98.27 km) and
Barhet-Sahebganj Road Package-
IV (49.85 km).
Meanwhile, Sadbhav Infrastructure
Project Ltd, a wholly
subsidiary of Sadbhav Engineering,
has entered into a
binding pact with Norwest Venture
Partners, the global investment
firm, and Xander Group,
Inc., a private equity firm, to
receive Rs. 400 crore for executing
its existing road projects and to
bid for new road development
projects under various national
and state highway development
programmes as well as
other infrastructure development
projects.
Vishnubhai Patel, Chairman &
Managing Director, Sadbhav
Group, said: "This substantial
investment from leading global
investors is a testament to the
progress our company has made
to date and the significant
opportunities we continue to see
in the rapidly growing road sector,
which currently dominates
the transport sector in India with
a 4.5 per cent share of GDP."