L1 bidder for elevated expressway announced

SEL: L1 bidder for B’lore road project
The Economic Times

SOMA Enterprises Ltd, a somewhat recent infrastructure player in the roads sector, along with two consortium partners, has emerged as the L1 bidder for the prestigious elevated corridor project between Karnataka State Electronics Dev Corp (Keonics) IT city and Bangalore city. The NHAI had called for bids earlier in February to award the BOT contract.

According to sources, the bids that were opened yesterday revealed SEL has won the 9 km elevated bridge project that extends into the development of a 9 km stretch below as well as an 18 km road that would link Koramangala to Hosur, a border city of Tamil Nadu. Sources said SEL had bid Rs 590 crore beating GMR, L&T and HCC. SEL officials said the contract was a negative grant of more than Rs 16 crore. A negative grant is where the bidder offers to pay the NHAI money to carry out the work.