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GMR Highways has announced the completion of Chennai Outer Ring Road Phase I Project. Government of Tamil Nadu and all concerned agencies issued a provisional certificate for completion with effect from 15.06. 2013 for Group's Chennai Outer Ring Road project.

This milestone will add to the cash-flow of GMR by INR 1.18 billion every year for the next 17 and half years. It adds almost INR 950 million to the revenues of road project in the year just ended on 31.03. 2014.

The company completed on design, build, finance, operate and transfer basis, the GMR Chennai Outer Ring Road project connects Vandalur on NH-45 to Nemillicheri on NH-205 via Nazaratpet on NH-4. GMR won this prestigious 29.65 Km project through international competitive bidding. The concession period of the project is 20 years including 30 months of construction.

The company commissioning of the project will significantly ease traffic congestion along the western periphery of Chennai city The Outer Ring Road connects the northern and southern suburbs of Chennai and will be a catalyst for expansion of the city and help growth of the industrial hubs in this region through better connectivity.

Commenting on the commissioning of the project, BVN Rao, business chairman of GMR Urban Infrastructure & Highways said, ''The Chennai Outer Ring Road is GMR Group's 9th highway project. Over the years, we have developed significant expertise in design, construction and operation of Highway projects. With growing urbanization and more cities planning ring roads and peripheral roads to enable better connectivity, GMR Group is ideally placed to partner with state governments in similar projects.''

Source-On Request