Lanco to build two toll roads in Karnataka
A Business Correspondent
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
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.
[23 July 2007]