L&T IDPL signs Rs 2,600 cr Concession Agreement with NHAI

L&T BPP Tollway Private Limited, a SPV incorporated by L&T Infrastructure  Development  Projects  Limited (L&TIDPL),  has  signed  the  Concession Agreement with NHAI today (June 22, 2011) for four-laning of the 244 km stretch of NH 14 between Beawar   and Pindwara situated in the State of Rajasthan. 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 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.

With this project, L&T currently has 16 projects in its BOT Roads Portfolio, out of which 7 are presently in operation phase, 8 in construction phase, and this project is entering the development phase, thus cumulating in a length of 6700 lane km and a total length of 1461 km, and a total project book size of Rs 15,800 crore.

Back ground:
Larsen & Toubro is a USD 11.7 billion technology, engineering and construction group, with global operations. It is one of the largest and most respected companies in India’s private sector. A strong, customer -focused approach and the constant quest for top-class quality have enabled L&T to attain and sustain leadership in its major lines of business over seven decades.