Gammon Infra receives LoA for Rs 16.84 bn project

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Gammon Infrastructure Projects announced on Wednesday it has received the letter of award for Rs 16.84 billion road project from from the National Highways Authority of India (NHAI).

The project is for six laning of the Vijayawada - Gundugolanu section of NH 5 in the State of Andhra Pradesh on BOT Toll mode on design, build, finance, operate and transfer basis.

The company will pay a premium of Rs 575.7 million per annum during the concession period.

The concession period of the project is 30 years, including a construction period of 2.5 years.