Gammon Infrastructure Projects said the company had obtained a letter of intent or LoI for Rs.850 crore from National Highways Authority of India or NHAI for for up-gradation of NH-47 from Patna to Muzaffarpur in the Bihar state.
The project involves upgrading the existing highway to a four lane dual carriageway starting from km 0.000 (Ramashish Chowk) to Km 46.300 and construction of a 16.870 Km. new bypass starting at Km 46.300 and connecting NH-28 of East-West Corridor at Km. 515.045.
The concession period of the project is 15 years, including the construction period of 2.5 years. The company said it would receive 25 semi-annual annuity of Rs.94.6 crore.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.