Madhucon signs pact with NHAI

Madhucon Projects Limited has signed a concession agreement for national highway BOT (build-operate-transfer) road project between Karur and Dindigul in Tamil Nadu "� NH-7, with National Highways Authority of India (NHAI).

The project involves designing, construction, development, operation and maintenance of 305.600 km to 373.275 km at a cost of Rs 360 crore with 20 years concession period and a positive grant of Rs 86 crore. The company has also received an in-principle sanction for term loan.

Madhucon has been awarded four BOT national highway projects of 330 kilometres worth around Rs 1,800 crore, three in Tamil Nadu and one in Rajasthan with a total positive grant of Rs 410 crore, a media statement said.

The company has already completed national highway to the extent of 360 kilometres.