GR Infraprojects on Monday announced that it has emerged as the lowest bidder for two projects worth Rs 3,613 crore floated by National Highways Logistics Management Ltd.

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The construction firm informed that it emerged as the lowest bidder after the financial bid opening on February 20.

The first project is related to the development, operation, and maintenance of the Ropeway from Gaurikund to Kedarnath in Uttarakhand in Hybrid Annuity Mode (HAM). The project cost is Rs 1,875 crore.

The second project also involves the development, operation, and maintenance of the Govind Ghat – Ghangaria – Hemkund Sahib ropeway in Uttarakhand in hybrid annuity mode. The project cost is Rs 1,738 crore.

Both projects have a construction period of four years from the date of appointment. The projects will have a commercial operation of 15 years.

GR Infraprojects is one of the leading integrated road EPC (engineering, procurement, and construction) companies with experience in design and construction of various road and highway projects across 14 states in the country.

It has experience in constructing state and national highways, bridges, culverts, flyovers, airport runways, and rail over-bridges.

In December, GR Infraprojects proposed the sale of its wholly-owned subsidiary company Rajgarh Transmission Ltd. to India Grid Trust (IndiGrid).

GR Infraprojects also signed a Memorandum of Understanding (MoU) with IndiGrid to jointly bid for the identified TBCB or Tariff Based Competitive Bidding transmission projects, aggregating to approximately Rs 5,000 crore.

Shares of GR Infra are trading 0.40 percent lower at Rs 1,149.75.

(Edited by : Rukmani Krishna)

First Published:Feb 21, 2023 2:44 PM IST