Chennai outer ring road to be built at Rs 985 cr

For the road development project of Chennai Outer Ring Road Phase II, Ashoka Buildcon company along with GVR Infra Projects has formed a consortium of 50:50 per cent and submitted a bid to the Tamil Nadu Road Development Company (TNRDC). The Ring Road Phase II is to be constructed from Nemilicheri on NH 205 to Minjur on Thiruvottiyur-Ponneri-Panchetti (TPP) Road on design, build, finance, operate and transfer (DBFOT) annuity basis.

The project is on annuity basis with a concession period of 20 years and the cost of the Project is Rs 985.44 crore. Tamil Nadu Road Development Company has declared the Consortium as a 'Selected Bidder' for the ring road Project on July 02.