"The NHAI has awarded its first international project in Myanmar. A joint venture between Punj Llyod and Varaha Infrastructure Ltd has won the bid to construct the Yagyi- Kalewa road section in Myanmar at a cost of Rs 1,177 crore," a senior NHAI official said.
The project has been awarded by the NHAI at a time when Prime Minister Narendra Modi is on a 3-day visit to Myanmar to help strengthen bilateral ties.
A senior NHAI official said it had received four bids for the project. The bidders included the Punj Lloyd JV, Jaypee, APCO and Effkon.
The project will be based on engineering, procurement and construction (EPC) model.
Under the project, the company will be required to build a road stretch of nearly 120 km within 36 months and the job includes construction of 3 major and 2 minor bridges.
The company is also supposed to maintain the project for five years, he added. The project is being funded by the Ministry of External Affairs and the NHAI will be the implementing agency.