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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