GMR Group?s Ambala-Chandigarh highway project was inaugurated at Chandigarh on Wednesday. This project is GMR Group?s first highway project in north.
This 35-km stretch on NH21 & NH22 was executed on a Build operate and transfer (BOT) toll model at an investment of Rs 500 crore.
The concession period for the project is 20 years and it took two and a half years to be completed. The project has been completed within the time schedule agreed under the Concession Agreement and received its provisional completion certificate on November14 this year.
GMR Group won this project through an international competitive bid from the NHAI in November 2005.