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Chennai Outer Ring Road Project Phase-II achieves financial closure

Tuesday, 15 Apr 2014
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Ashoka Buildcon, in a consortium with GVR Infra Projects, has achieved financial closure for Phase-II of the Chennai Outer Ring Road (ORR), in Chennai district of Tamil Nadu.

 

The company has received a letter from the Highways and Minor Ports Department, government of Tamil Nadu, declaring financial closure for development of Chennai ORR Phase-II, from Nemilicheri in NH-205 to Minjur in Thiruvottiyur-Ponneri-Panchetti (TPP) road, on DBFOT annuity basis.

 

The project is being executed by an SPV, GVR Ashoka Chennai ORR, formed by Ashoka Buildcon and GVR Infra Projects.

 

The cost of the project is Rs 1,440 crore, and has a concession period of 20 years.

 

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