L&T inks Rs 2,600 cr pact with NHAI

Larsen & Toubro (L&T) today said its arm --  L&T Infrastructure Development Projects had inked a Rs 2,600 crore concession agreement with the National Highways Authority of India (NHAI) for widening of Beawar-Pindwara highway in Rajasthan.

"L&T BPP Tollway, a SPV incorporated by L&T Infrastructure Development Projects [L&TIDPL], has signed the Concession Agreement with NHAI today for four-laning of the 244 km stretch of NH 14 between Beawar and Pindwara situated in Rajasthan," L&T said in a statement.

The Project would be executed on BOT DBFO (Design Build Finance & Operate) basis, with a concession period of 23 years.

"The estimated project cost is of the order of about Rs 2,600 crore, and the project is scheduled to be completed within a period of 30 months," the engineering and construction major said, adding that the developer is entitled to collect toll from the users of the project.

The Project Corridor is one of the main evacuation routes for traffic from Kandla and Mundra Ports towards 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, the company said.

With this project, L&T currently has 16 projects in its BOT Roads Portfolio, out of which 7 are at present in operation phase, 8 in construction phase.

The project book size is of Rs 15,800 crore.

L&T is a $11.7 billion technology, engineering and construction group, with global operations.