Jharkhand Road Projects Implementation Company Ltd (JRPICL)

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Jharkhand Road Projects Implementation Company Ltd (JRPICL) was created to implemente three road projects (Ranchi Ring Road Stretch, Ranchi Patratu Dam stretch, and Patratu Dam Ranchi Stretch) under BOT annuity with 17.5 years. All three road involved 466 lane km and were the phase I of the project. Phase II comprised around 536 lane km with no estimated cost.) A brief snapshot of the above three projects is as follows: • Ranchi Ring Road Stretch: Six laning of 36.3 km long Ranchi Ring Road stretch at a project cost of Rs 719 cr. The project was scheduled to achieve commercial operation by Sep 2012. The senior debt facility of Rs 554 cr has been financed by a consortium of 7 banks led by Bank of India • Ranchi Patratu Dam stretch: Four laning of 35.27 km long Ranchi Patratu Dam Stretch at a project cost of Rs 307 cr. The project is scheduled to achieve commercial operation by October 2012. The senior debt facility of Rs 230 cr has been financed by a consortium of 5 banks led by Bank of India • Patratu Dam Ranchi Stretch: Four laning of 27.12 km long Patratu Dam Ramgarh Stretch at a project cost of Rs 382 cr. The project is scheduled to achieve commercial operation by October 2012. The senior debt facility of Rs 294 cr has been financed by a consortium of 6 banks led by Bank of India This project was part of Government of Jharkhand (GoJ)’s initiative to boost infrastructure in the state named ‘Jharkhand Accelerated Road Development Programme’ (JARDP) to improve road infrastructure in the state aggregating upto 1500 Lane km. The project was implemented in a Public Private Partnership (PPP) framework and GoJ entered into Project Development Agreement with IL&FS Ltd (IL&FS). The BOT Concession was awarded to JRPICL for a period of 17.5 years on BOT Annuity Basis. The projects are sponsored by IL&FS transportation Network Limited (ITNL), the transportation vertical of IL&FS which houses all transport sector endeavors of IL&FS The cost of phase I was estimated to be INR 14,078 million (US$ 308 million). The project reached financial closure in March 2010 when IL&FS Financial Services Ltd (IFIN) successfully completed the debt syndication for the three projects of the Jharkhand Road Project Implementation Company Ltd (JRPICL).