By NewsGram Staff Writer
Bangalore based infrastructure company, GMR Group has acquired the contract for a 417 km railway project. The company disclosed the news today.
GMR’s stock exchange filing read ‘A consortium led by GMR Infrastructure Ltd. has been issued Letter of Award for construction of 417-km Eastern Dedicated Freight Corridor railway project at a cost of Rs.5,080 crore on EPC (Engineering, Procurement and Construction) basis.’
The project, funded by World bank, is divided in two stretches. A 180 Km stretch from Mughalsarai to Karchana (near Allahabad) and the other from Karchana to Bhaupur (near Kanpur) for 237 km in Uttar Pradesh.
The construction, stipulated to be done in 45 months, will tremendously increase the freight capacity of Indian Railways.