SPV formed for road project in Madhya Pradesh

IANS – Fri 17 Aug, 2012 6:00 PM IST

New Delhi, Aug 17 (IANS) The government Friday approved the formation of a special purpose vehicle (SPV) to execute the Lakhnadone-Ghansore road project in Madhya Pradesh.

The project will be executed on a build, operate and transfer (BOT) basis. The central government will invest 35 percent of the project cost that comes to Rs.23.11 crore.

The Telecommunications Consultants India (TCIL), a telecommunications and information technology company that has of late diversified into civil works, will execute the project.

The company's paid-up capital stands at Rs.43.20 crore, its stand-alone net worth is about Rs.420.41 crore.

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