Beawar Gomti NH Road

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This project included the development of two lanes with an aggregate length of approximately 248 lane kms under an 11 year DBFOT (Toll) contract on the Beawar Gomti Highway connecting Beawar to Gomti in the State of Rajasthan. The contract had an option to expand the road to a four lane highway and in case the company exercises the option to construct a four lane highway on the stretch within seven years from the appointed date the contract would be further extendable to 30 years (March 2039). The Department of Road Transport & Highways, Government of India awarded concession for this project to ILFS (ILFS Transportation Networks Ltd.) on DBFOT (Toll) basis in January 2009 when the sponsors requested a grant of INR 754.65 million. The letter of award was issued in March 2009 and concession agreement was signed in April 2009. The first eleven years of the concession run from Apr-2009 to Mar-2020. The stipulated date for completion of the Project is January 27, 2011. However, the Company achieved the completion 5 months ahead of the schedule. The toll collection commenced to be effective from August 25, 2010. The project cost was estimated to be INRs 3550 million (US$77.6 million). The project reached financial closure in August 2010. The senior debt amounted to INR 2547 million and Sub-Debt for INR 213 million. The project received a government grant of INRs 754.65 million (US$16.5 million).