HG Infra Engineering Ltd has emerged as the lowest bidder (L1) for a road upgradation project in Gujarat, the construction major said.

The project involves upgrading the existing six-lane road, including an elevated corridor, spanning from Narol Junction to Sarkhej Junction along National Highway 47 in the state.

"H.G. Infra Engineering Limited has been declared as L-l bidder by the Ministry of Road Transport and Highways (MoRTH) for the project," the company said in an exchange filing.

The estimated project cost by MoRTH is Rs 883.24 crore, with HG Infra's bid coming in at Rs 781.11 crore.

The project will be executed under the Hybrid Annuity Mode (HAM), covering a length of 10.63 kilometers. The construction period is expected to be 2.5 years.