BUSINESS

Madhucon bags road project in Tamil Nadu

HYDERABAD: Madhucon Projects Ltd., a Hyderabad-based construction company, has been selected by the National Highways Authority of India to design, construct, develop, operate and maintain the 63-kilometre road-stretch between Dindigul and Karur in Tamil Nadu on a build, operate and transfer basis. The total cost of the project is approximately Rs. 360 crore with a 20-year concession period and positive grant of Rs. 86 crore. The NHAI has earlier selected Madhucon for a BOT project in Rajasthan, which is in the advanced stages of financial closure, according to a release.