New Delhi, Apr 24 (PTI) Highways builder Dilip Buildcon today said its SPV has entered into a pact with NHAI for Rs 2,991.70 crore projects in Karnataka.

A special purpose vehicle (SPV) Ashoka Mallasandra Karadi Road Private Ltd has entered into a concession agreement with National Highways Authority of India (NHAI) for four-laning of Tumkur Shivamogga section of NH 206 from Mallasandra to Karadi Village on hybrid annuity mode.

The Rs 917 crore project to be undertaken under National Highways Development Project (NHDP) phase IV will be executed in hybrid annuity mode (HAM).

The company said another Rs 1,218.50 crore project pertains to four-laning of the Tumkur-Shivamogga section of NH 206 under NHDP phase IV in HAM mode and will be executed by Ashoka Karadi Banwara Road Pvt Ltd SPV.

The other project pertains to four-laning of Belgaum Khanapur Section of NH 4A on HAM.

This is published unedited from the PTI feed.