IJM Corp Bhd has signed a concession agreement with the National Highway Authority of India to construct the four-lane Mahua-Jaipur section of National Highway-11, chief executive officer Krishnan Tan told AFX-Asia.
“We signed the agreement last Friday,” he said, adding that the contract was worth RM414.7mil and based on a build-operate-transfer basis.
He said work on the 108km-long section project had started and was expected to be completed within 36 months.
IJM has reportedly been given a grant of RM56.9mil for a 25-year concession period including the construction period of three years.
Tan said IJM would continue to bid actively for more projects in India and “hopes to clinch more contracts” there.
He had earlier indicated that out of IJM's RM3.2bil order book, RM1.3bil was related to its India projects.
Tan expects about 40% to 50% of the company's order book to come from overseas markets in the next few years. – AFX-Asia
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