Kharar - Ludhiana section of NH - 95 (new NH - 05)

active

The project involves six-laning of 54 km and four-laning of 22 km of National Highways. The road starts at Kharar town, passes through Morinda bypass, Khamanno town, proposed Samrala bypass and terminates at Ludhiana. It would improve connectivity and faster movement of traffic from industrial hub of Ludhiana to Chandigarh and other parts of North India. The project would also provide alternate connectivity of Chandigarh to NHAI-1, as well as for the traffic from South-West Punjab to the Chandigarh city. Furthermore, it would have two major bridges, six minor bridges, eight flyovers, six vehicular underpasses, 10 pedestrian underpasses, 126 culverts, 46-km long service lane, nine major junctions, 253 minor junctions and eight-km long bypass at Samrala. Ashoka Kharar Ludhiana Road company is the project company of the sponsor that would undertake the road upgradation. The concession was signed in August 2016 following a competitive bidding process with bid criteria being the lowest cost of construction and operation. Ashoka Buildcon, via its wholly - owned subsidiary, appeared to be the lowest bidder in the auction, thus bagging the right to undertake the project. This is a brownfield project being developed under a BROT modality, with a concession period of 15 years, excluding 2.5 years of construction works. This project falls under the new Hybrid Annuity model, which is a mix of engineering, procurement and construction (EPC) and build operate transfer (BOT) system. The project cost (as per concession agreement) is Rs. 2,070 crore ($31.78 million). According to HAM, the project costs would be split between the sponsor as follows: sponsor's equity of $4.77 million (15%), NHAI grant of $12.7 million (40%) and the remaining $14.3 million (45%) would be debt financing arranged by the sponsor. Thereafter, NHAI would repay the 60 per cent private funding in installments, plus interest thereon over the life span of the concession. The project achieved financial close on March 29 2017. Lenders not disclosed as of July 10th 2017