GMR Highways expects Rs. 118-cr cash-flow from Chennai road project.

GMR Highways has completed the Chennai Outer Ring Road Phase I Project.

The company in a release to exchanges said the Tamil Nadu Government and all concerned agencies have issued a provisional certificate for completion with effect from June 15, 2013, for the group's Chennai Outer Ring Road project.

'This milestone will add to the cash-flow of GMR by Rs. 118 crore every year for the next 17-and-a-half years. It added almost Rs. 95 crore to the revenues of the road project in the year just ended on March 31, 2014,' the company release added.

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.

The company had won the 29.65-km project through international competitive bidding. The concession period of the project is 20 years, including 30 months of construction.


HBL