L&TIDPL signs Rs2,600-crore concession agreement with NHAI
22 Jun 2011
L&T BPP Tollway Private Limited, a special purpose vehicle (SPV) incorporated by L&T Infrastructure Development Projects Limited (L&TIDPL), today signed a concession agreement with NHAI for four-laning of the 244 km stretch of NH 14 between Beawar and Pindwara in Rajasthan.
The project would be executed on BOT DBFO (design build finance and operate) basis, with a concession period of 23 years. The estimated project cost is of the order of about Rs2,600 crore, and the project is scheduled to be completed within a period of 30 months. The concessionaire is entitled to collect toll from the users of the project highway during the concession period on completion of four-laning.
The project corridor is one of the main evacuation routes for traffic from Kandla and Mundra ports, destined to hinterlands spread out in Northern India, extending to Rajasthan, Haryana, Delhi, Punjab and beyond. The project corridor falls within the proposed Delhi-Mumbai Industrial Corridor (DMIC) and the four-laning of the 244 km stretch of NH-14 within this industrial corridor is expected to accelerate the development and growth prospects in this region, L&T said in a release.
With this, L&T currently has 16 projects in its BOT roads portfolio, out of which seven are in operation phase, eight in construction phase, while the current project is entering the development phase. This works out to a total length of 6,700 lane km and a total road length of 1,461 km, and a total project book size of Rs15,800 crore.
