Leading infrastructure developer Soma Enterprise Limited Thursday announced that it had bagged five road projects worth Rs.12 billion ($271 million) to improve connectivity between Hyderabad, Bangalore and Nagpur.
In a joint venture with the Chinese firm, the company will complete the 170-km road in four stretches on the Hyderabad-Bangalore highway, a part of the north-south corridor. The work will start next month and the company plans to complete it six months short of the contract period of 30 months.
The projects include four stretches of the Hyderabad-Bangalore highway, estimated to cost Rs.7.44 billion, awarded to the joint venture of Soma Enterprise and China Gezhouba Water and Power (Group) Co Ltd on cash contract basis.The consortium of Soma and Avinash Bhosale has also bagged the Rs.4.6 billion Hyderabad-Nagpur project on the build-operate-transfer (BOT) basis. Soma Enterprises director Ankineedu Maganti told reporters that the five projects awarded to the company would enhance connectivity between the strategic cities of Hyderabad, Bangalore and Nagpur.
In a joint venture with the Chinese firm, the company will complete the 170-km road in four stretches on the Hyderabad-Bangalore highway, a part of the north-south corridor. The work will start next month and the company plans to complete it six months short of the contract period of 30 months.
On the Hyderabad-Nagpur highway, the company will lay a 55-km stretch in Adilabad district up to the Maharashtra border.
Maganti said the company had completed projects worth Rs.25 billion during last nine years while the order book currently crossed Rs.50 billion. The current order book position for road projects has crossed Rs.25 billion. 'We are targeting a 75 percent growth year-on-year. We will consolidate ourselves as key players in the execution of hydropower, irrigation and water resource development projects,' he said.
India PR Wire
