'GMR-led group lowest bidder for two packages of EDFC projs'

Hyderabad: GMR Infrastructure Limited Tuesday said a consortium led by it has emerged as the lowest bidder in the international competitive bidding for two packages of the Eastern Dedicated Freight Corridor project worth Rs 5080 crore.

The project involves construction of 417-km-long double track railway line from Mughalsarai to New Bhaupur (near Kanpur) on EPC basis, GMR said in a statement.

"DFCCIL (Dedicated Freight Corridor Corporation of India) received five bids for the project wherein the GIL-led consortium has quoted a price of Rs 5080 crore. The award of work will be subject to approval by DFCCIL," it said.

The Eastern Dedicated Freight Corridor extends from Ludhiana to Dankuni near Kolkata.

As part of Asset Light Asset Right (ALAR) strategy, GMR Group is not required to provide any equity for the project since it is to be implemented on EPC basis.

The project, financed by World Bank through DFCCIL, is to be completed in 45 months after award. GMR is implementing two railway projects for Rail Vikas Nigam Limited (RVNL) at present and has requisite experience to implement the project, the release added.