GMR Infrastructure Ltd has informed that its consortium has won the prestigious Hyderabad-Vijaywada highway project from National Highways Authority of India (NHAI).

The company has secured the project, which will be based on Build, Operate and Transfer (Toll) basis, through tough international competitive bidding.

According to GMR Infra, the 181-kilometre highway project includes construction, operation and maintenance of four-six lane roads in Andhra Pradesh for 25 years.

Further, the company stated that the latest project would be implemented through a special purpose vehicle (SPV) set up by the GMR Group, and funded through a mix of debt and equity in the ratio of 4:1.

Under the consortium, GMR owns 74 percent while Punj Lloyd will hold the rest of stake in the company.

However, the company did not disclose any financial detail in this regard. But the experts estimate the project at Rs 2200 crore.