IVRCL Assets and Holdings, a subsidiary of IVRCL, has secured a contract worth Rs12bn ($241m) from the government of Haryana state in India to build a 151km-long highway connecting the Rajasthan border and Haryana.

The project involves the widening of a road that starts at Rai Malikar on the Rajasthan border and passes through Narnaul, Mahendragarh, Dadri and Bhiwani.

Work on the project involves the repair, upgrade and widening of the existing carriageway to four-lane standards, as well as the construction of new pavement, the repair of existing pavement, and the construction of bridges and drains.

The project, known as the Kharak Corridor Project, will be carried out in 30 months and its operation will be overseen by IVRCL Assets and Holdings for 20 years after construction is completed.

Kharak Corridor Project will be executed on a design, build, finance, operate and transfer (DBFOT) basis.

After completion, the project is expected to serve as a major interstate south-north link between Rajasthan, Gujarat, Maharashtra, Punjab, Himachal Pradesh, and Jammu & Kashmir.

This project is the second road project the company has secured this month after securing a Rs13bn ($261m) project from the National Highways Authority of India (NHAI) to widen the Raipur-Bilaspur Section of the NH-200 in Chhattisgarh state to four and six lanes

The scope of the contract involves the widening and strengthening of the existing two-lane highway and operation of the highway for 25 years, including a construction period of 30 months.

The company has recorded a turnover of Rs11bn ($240m) for the third quarter of this year compared to the Rs14bn ($283.5m) it recorded during the corresponding period last year.