Gagalheri - Saharanpur - Yamunanagar (UP/Haryana Border) section of NH-73

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The project involves the 4-laning of Gagalheri - Saharanpur - Yamunanagar (UP/Haryana Border) section of NH-73. The total length of the section of 51.5 km. Promoter of the project is Welspun Enterprises (Infrastructure company owned by Welspun Group). The concession contract was awarded by National Highway Authority of India to the sponsor following a competitive bidding process based on the lowest cost of construction and operation. This project falls under the Hybrid Annuity mode, NHDP-IV. Under the Concession Agreement, construction of the Project is to be completed within 2 years from the Appointed Date and is to be maintained for 15 years thereafter, post which it will be transferred to NHAI. Hence total concessional period is 17 years. The sponsor will recoup its investment not by collecting toll fees, but by receiving fixed and variable annual payments from NHAI. Total investment cost stands at Rs 1184 crore ($184.47 mn). As a HAM project, the means of financing are as follows: NHAI will provide Rs 473.6 ($73.79 mn or 40%) as capital subsidy for the construction, while the sponsor will arrange the remaining funds as debt and equity in 48:12 ratio ($88.54 mn and $22.14 mn, respectively). Financial close was achieved in February 2018, and appointed date on February 3rd, 2018. http://www.4-traders.com/WELSPUN-ENTERPRISES-LTD-9743467/news/Welspun-Enterprises-update-on-road-project-on-NH-73-UP-Haryana-Border-25939333/ https://global.factiva.com/pro/default.aspx?napc=S&_XFORMSTATE=AFF7MTp7MTA5OnsxOjAsMjoiRCIsMzowLDQ6MCw1OiJwcm9ial9hcHBsaWNhdGlvbl9wZGY6YXJjaGl2ZS9GQVBPUkgyMDE4MDIxNDAwMzI1LzQ4LzIzNjkwODkvQUZJTkNDMDDABAs1ZWUyZTAwMDYzIn19fREAAHgAAAA%3d&sa_from=GL http://www.infrapppworld.com/documents/projects/letter-nit-11.pdf