Larsen & Toubro bagged a BOT contract worth Rs.550 crore from National Highways Authority of India for four-laning of Palanpur and Swaroopgunj stretch of km.76 on the East-West Corridor (NH-14), linking Gujarat and Rajasthan.

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 a period of 17 years and six months through an SPV -- L&T Interstate Road Corridor Ltd.

NHAI is scheduled to pay annuity (amount unknown) as equated half-yearly installments, for a period of 15 years. Work on the project is scheduled for completion within 30 months.

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.

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