GMR Infrastructure reached the decision after weeks of discussions with the National Highway Authority of India, over getting various statutory clearances for the project.
The company is understood to have walked out of this project after NHAI failed to get the required environmental clearnaces, notification of toll and denotification of land among others for GMR to proceed with the project execution.
GMR Infrastructure, in fact had even achieved financial closure for this project and a third of the equity requirement was also ready.
GMR had won the project during September 2011 against stiff global competition.
The project was expected to beef up GMR's revenues substantially.
The project was for the six-laning of the 555-km Kishangarh-Udaipur-Ahmedabad stretch, the country's first expansion of a mega highway.
This project was to have been implemented through a design-build-finance-operate-and-transfer model.
This section is a part of the Delhi-Mumbai (Golden Quadrilateral) corridor and goes through the newly announced Delhi-Mumbai
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