The Haryana state government in India has awarded a Rs13.6bn ($275m) contract to IVRCL Assets & Holding to build a 151km North-South corridor on a design, build, finance, operate and transfer (DBFOT) basis.

The corridor will connect NH-8 at Kotputli in Rajasthan to NH-1 at Ambala in Haryana passing through Nangal Chaudhary-Narnau- Mahendergarh-Dadri-Bhiwani-Rohtak-Jind-Kaithal-Pehowa-Ambala.

The project will provide a link between Rajasthan, Gujarat and Maharashtra and North-Indian states of Haryana, Punjab, Himachal Pradesh, Jammu and Kashmir.

Some 29 companies requested qualification; 24 were declared qualified, out of which four submitted financial proposals.

India-based IVRCL Assets & Holding offered the best bid offering a premium of 2% which will be increased by additional 1% in each successive year till the end of concession period of 20 years.