Sadbhav Engineering updates on Malavalli to Pavagada highway road project

In State of Karnataka

Sadbhav Engineering announced that on completion of all the formalities in relation to the appointed date as required under the Concession Agreement dated 20 March 2014 between Mysore - Bellary Highway (MBHPL) and Government of Karnataka (the Client), 12 December 2014 has been declared by the Client as the appointed date for the project Design, Build, Finance, Operate, Maintain & Transfer (DBFOMT) of existing state highway (SH-3 & SH 33) from Malavalli to Pavagada (approx length of 193.344 Kms) in the State of Karnataka on DBFOMT annuity basis to be executed by the Company's subsidiary & SPV, MBHPL.

Concession period for the project is 10 years from the appointed date including construction period of 30 months. MBHPL shall receive lumpsum payments of Rs. 239.209 crore during construction period and semi-annual annuity of Rs. 71.15 crore post achievement of COD till the end of concession period.

Powered by Capital Market - Live News