LANCO Kondapalli Power Pvt. Ltd, a subsidiary of Lanco Infratech Ltd, has won the contract for construction and operation of two road projects in Karnataka. The projects will be executed on BOT basis under the NHDP Phase-III.
The company has formed two 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 NHAI.
Lanco Hoskote Highways will undertake the 81-km Bangalore-Hoskote-Mudbagal stretch on NH-4 and Lanco Devihalli Highways will construct the 82-km Neelamangla-Devihalli stretch on NH-48. The total project cost is estimated at Rs 1,006 crore. The concession periods are 20 and 25 years, respectively, including 30 months of construction period.