DBL Bankhlafata Dogawa Tollways Limited

Active

Prospective

In July 2013, Madhya Pradesh Road Development Corporation (MPRDC) signed a 15-year concession (inclduing construction period of 730 days) with Dilip Buildcon Limited (DBL) for the strengthening, improvement,two-laning/intermediate laning, operation and maintenance,and tolling of 65.40kms of 3 existing major district roads in the state of Madhya Pradesh - i) Bankhalafta-Dogawa via Borawa-Savardevala (Khargone district, 23.67kms), ii) Punasa-Mundi-Singhaji (Thermal power plant) & Singhaji bridge approach road (Khandwa district, 13.30kms), iii) Beed-Mundi-Devaa-Khutala-Attoot-NVDA (Khandwa district, 28.43kms). Under the contract, DBL was responsible for the design, construction,finance, operation and maintenance,strengthening and widening the existing 2-lane carriageway to 2-lane divided carriageway.The scope included construction of new pavement, rehabilitation of existing pavement, construction and/or rehabilitation of major and minor bridges,culverts, road intersections,interchanges, drains, etc.The expansion project, part of the MDR (major district roads) development project, was expected to ease traffic congestion and give significant stimulus to trade and commerce in the entire region. DBL established DBL Bankhlafata Dogawa Tollways Limited (DBDTL),a special purpose vehicle on 31st December 2012, to implement the project. The SPV won the tender through international competitive bidding, conducted by MPRDC,by requesting the lowest annuity payment. Details of bidding were not known at the time of collection of this information. Under the contract, the SPV was to recover the capital costs and operating costs including returns through semi-annual payments from MPRDC, during the term of concession. DBL would execute the EPC for the project. The concession agreement for the project was signed sometime around July 2013. The project was expected to be financed with a debt/equity ratio of 73/27. The estimated capital cost of the project at the time of financial closure was US$ 20.1mn (INR 1177.1mn @58.6 INR/USD). Financing was expected to be comprised of a term loan of US$ 14.7mn (INR 860mn) and sponsor equity of US$ 5.4mn (INR 317.1mn). Other details of financing were not known at the time of collection of this information. The project started construction in 1st September 2013 (Appointed Date) and was slated for completion by 31st August 2015, but achieved early completion by 31st March 2014.

Transport

World Bank Group

Project

Commercial, Power Generation (CCGT), Road, Government, Geothermal, Bridge, Manufacturing (Industrial), Waste Processing and Treatment, Automotive