Larsen

New Delhi, Apr 5: Engineering and construction major Larsen and Toubro (L&T) today said it has bagged a Rs 550 crore annuity-based road project from the National Highway Authority of India (NHAI).

The project involves four-laning of the 76-km Palanpur and Swaroopgunj stretch located on the East-West Corridor on NH-14, linking Gujarat and Rajasthan.

The order will be executed by the Company's Engineering Construction and Contracts (ECC) Division in 30 months.

NHAI is scheduled to pay the annuity as equated half-yearly installments, for a period of 15 years.

The project involves widening of the existing two-lane corridor to four lanes construction of six major bridges, twenty minor bridges, two ROBs, one flyover, fourteen underpasses, two toll plazas and other wayside amenities.

The Company will design, engineer, finance, contract these road stretches and maintain them for 17 years and six months through a special purpose Company L&T Interstate Road Corridor Ltd.

This is the tenth BOT project secured by L&T of which five are located on the Golden Quadrilateral, three on North-South Corridor, One on the East-West Corridor and one on the state highways. The cumulative value of these projects exceeds Rs 3700 crore.

UNI