National Highways Authority of India, on 12 July 2006, signed the concession agreement to six-lane the Vadodara-Bharuch Section of NH-8 on BOT basis.

The agreement was signed with the concessionaire L&T Vadodara Bharuch Tollway Ltd to widen from four-lane to six-lane, the 83 km-long Vadodara-Bharuch Section in Gujarat.

Section: Vadodara-Bharuch Section (NH-8)
State: Gujarat
Project: NHDP (Phase V)
Length: 83.3 km (km 108/700 to km 192/000) on NH-8
Execution: BOT model
Concessionaire: L&T Vadodara-Bharuch Tollways Ltd
(IDFC may pick up 26 per cent stake in the SPV)
Cost: Rs.660 crore (Largest cost of any BOT project under NHDP so far)
Grant: Rs.471 crore (Negative, payable to NHAI)
Completion: 30 months
Concession period: 15 years, including construction time

This is the second project to be awarded under NHDP Phase V, the first being the Bharuch-Surat highway project. Both the projects awarded under NHDP-V so far have involved negative grant, which means that the concessionaire makes upfront payment to NHAI for developing the project.

Also See:

NHDP-V launched, highest "negative grant" to NHAI (10-Jul-06)