Era Costructions bags Rs 300.93 cr project

New Delhi, May 21 (UNI) Era Constructions (India) Ltd, a subsidiary of ERA, an infrastructure company, has bagged a Rs 300.93 crore order from NHAI in consortium with RAMKY Infrastructures Ltd and Shriram Chits Pvt Ltd.

The order aims at executing the Gwalior by-pass project. This includes construction of a 42.033 km four lane by-pass on National Highway 3 joining Highway 75 in the state of Madhya Pradesh (North-South corridor) on BOT (Build, Operate and Transfer) basis.

Era Group Chairman Mr Bharana said, ''The Gwalior by-pass project is the first BOT project on an annuity basis. This will increase the value of all stakeholders.'' Era Constructions has been undertaking projects since 2005 with the widening and strengthening of the 112 km long state highway in Madhya Pradesh valued at about Rs 45 crore.

The government has announced Public Private Partnerships (PPP) as the cornerstone of its infrastructure development policy with approximately 80 per cent of the Centre's Rs 2200 billion investment. ''This makes the oppurtunities exciting in the highways space,'' added Mr Bharana.

The project is expected to be completed by October 2009. The highway projects include engineering, construction, operation and maintenance of highways.

UNI