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NHDP-V launched, highest "negative grant" to NHAI

Monday, 10 Jul 2006

National Highways Authority of India on 7 July 2006  launched Phase V of the National Highways Development Project (NHDP) with the signing of an agreement to six-lane the Bharuch-Surat Section of NH-8, the first project under this phase.

NHAI signed a concession Agreement with a consortium of four firms led by M/s. IDAA Infrastructure Pvt. Ltd., to widen from four-lane to six-lane, the 65 km-long Bharuch-Surat section in Gujarat on Build Operate Transfer (BOT) basis. The following are details.

Section: Bharuch-Surat Section (NH-8)

State: Gujarat

Project: NHDP-V

Length: 65 km (km 198 to km 263) on NH-8

Execution: BOT model

Concessionaire: IDAA Infrastructure Pvt Ltd (four-member consortium)

Cost: Rs.492

Completion: 30 months

Concession period: 15 years, including construction time

Grant: Rs.504 crore (Negative, payable upfront TO NHAI)

Project profile: Click here.

 

The members of the consortium are Ideal Road Builders, DVJ Leasing & Finance, Aryan Toll Road Pvt Ltd and ATR Infrastructure.

The agreement is significant considering that this project involves the highest-ever negative grant for any highway project in the country. Prior to this agreement, the highest negative grant received by NHAI was Rs.105.86 crore paid by GMR, for widening and maintaining a section of the Ambala-Chandigarh highway. IDAA Infrastructure Pvt. Ltd. would be shortly paying NHAI Rs.504 crore upfront for conceding the project. 

What is NHDP-V?

Under Phase V of NHDP, about 6,500 km of National Highways including the Golden Quadrilateral would be widened from 4 to 6-lanes at a cost of Rs.41,210 crore. This would include development of corridors/sections with high density of traffic which are otherwise important for tourism or economic reasons.

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