KNR executes NH project ahead of schedule
KNR Constructions Ltd has announced it has completed the work of a 97 km road project located on NH13 on the Bijapur-Hungund section.
The project was completed in 582 days against schedule duration of 910 days (328 days ahead of schedule).
This is considered a record in early completion in the history of Indian highway construction works of this magnitude.
The achievement also includes construction of 810 metre dual carriageway bridge over river Krishna on NH-13 (recently changed as NH-50) near Almatti in a record time of 11 months and 16 days which is an engineering feat, according to a statement.
Mr K. Jalandhar Reddy, Executive Director of KNR, in a statement said this achievement will open up new opportunities and tie ups for EPC contracts.
The company has an order book of Rs 3,396 crore.
KNR Constructions completes NHAI project in record time
HYDERABAD: Hyderabad-based construction firm KNR Constructions has completed the Bijapur-Hungund toll road of National Highways Authority of India (NHAI) nearly 11 months ahead of schedule and claimed it a record in the history of Indian highways.
The four lining of 97.22 kilometres of road project, valued at Rs 905.5 crore, was completed in 582 days as against the scheduled duration of 910 days.
NHAI had awarded the project on design, build, finance, operate and transfer (DBFOT) basis to a special purpose vehicle of Sadbhav Engineering, which in turn awarded the project to KNR Constructions, an EPC (engineering, procurement and construction) contracting firm.
"The primary motivation to complete the project much ahead of schedule was the attraction of earning a bonus of Rs 16 lakh per every single day of early completion. In the process, we ended up with earning a bonus of around Rs 50 crore for early completion," Executive Director K. Jalandhar Reddy told ET.
As a part of achieving the target, he said, the company has paid additional compensation to the land owners towards expeditious land acquisition, apart from deploying modern imported construction equipment and adopting best sourcing and keeping a strong supply chain of raw material.
"Most of the concessionaries are bagging the road projects these days at very thin margins owing to aggressive bidding and early execution of projects by EPC contractors will significantly help them improve their financials," said Reddy.
Further, he said in the backdrop of not securing BOT road projects from NHAI owing to not so aggressive bidding strategy, KNR will now focus largely on EPC road contracts and help the BOT players with its strong execution skills.
KNR, with Rs 1,051 crore revenue last fiscal, now has an order book of Rs 3,396 crore comprising of Rs 3,253 crore of road EPC contracts, said Reddy.
Receipt of Completion Certificate for its Bijapur - Hungund Work
With refer to the receipt of an EPC order worth Rs. 825 Crores towards “4 Laning of Bijapur — Hungund Section of NH-13 from Km 102.00 to Km 202.00 in the State of Karnataka under NHDP Phase III" in the State of Karnataka from Bijapur Hungund Tollway Private Limited and Sadbhav Engineering Limited, vide letter dated May 28, 2010, KNR Constructions Ltd has informed BSE that the Company had received 100% Provisional Completion Certificate (COD) for the above referred work.
This Project has been completed well in advance of 328 days, the due date for completion of project is March 03, 2013 and actual date of Completion is April 09, 2012.
KNR Constructions completes road project ahead of time
BS Reporter / Chennai/ Hyderabad Apr 19, 2012, 00:23 IST
Constructions Limited has completed the work on 97.221 km of road project on National Highway (NH) 13 in the Bijapur-Hungund section in 582 days against the scheduled duration of 910 days, 11 months ahead of time.
The achievement also includes construction of an 810 m dual carriageway bridge over river Krishna on National Highway 13 (recently changed to NH-50) near Almatti in a record time of 11 months and 16 days, a company release said here on Wednesday.