LANCO bags two toll road projects in Karnataka

Hyderabad, July 16 (UNI) LANCO Hoskote Highways Pvt Ltd and LANCO Devanahalli Highways Pvt Ltd, two Special Purpose Vehicles of LANCO, bagged the contracts worth Rs 1,006 crore for construction and operation of two road projects in Karnataka on Build, Operate and Transfer (BOT) basis under the National Highways Development Project (NHDP) Phase III.

According to a release here today the concession agreements for the projects had been signed with the National Highways Authority of India Ltd. The two road projects were the 81 km Bangalore-Hoskote-Mudbagal stretch on National Highway four and 82 km Nelamangala-Devanahalli stretch on National Highway 48, .

The concession periods were 20 and 25 years for the two projects respectively, including 30 months of construction period. The contracts had been awarded through a competitive bidding process.

LANCO Group was one of the fastest growing corporate entities in India with more than two decades of experience of operating in the core sectors of Power Generation, Power Trading, Realty, Engineering and Construction, Information Technology and Manufacturing, the release added.

UNI