Kodinar - Veraval Road Upgradation

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The project entails the four laning of Kodinar to Veraval section of NH-8E from 221.61 km to 263.00 km and from km 120.900 to 121.150 of NH-8D. Agroh Kodinar Veraval Highways, a special purpose vehicle (SPV) incorporated and owned by Agroh Infrastructure Developers, has entered into concession agreement with NHAI for the design, build, finance, operate and transfer (DBFOT) of 41.75 km road project on Hybrid Annuity basis. Concession period includes construction period of 910 days from appointed date and operational period of 15 years from commercial operations date (COD). Once the concession period lapses, the project company will transfer the ownership of the project to the state. Concession contract was awarded after a competitive bidding process based on lowest cost of construction and operation. Total cost of the project is Rs.670 crore ($103 million) to be funded through debt of Rs.321.60 ($49.4 million) crore, construction grant from NHAI of Rs.268 crore ($41.2 million) and balance Rs. 80.4 crore ($12.4 million) through promoter’s contribution. Debt financing has a tenor of 17 years and 7 months provided by a pool of banks. Financial closure was reported to have occurred on 27th October 2017. CARE Ratings, WB library files https://infrastructureindia.gov.in/view-project?p_p_id=viewproject_WAR_Projectportlet&p_p_lifecycle=0&p_p_col_id=column-1&p_p_col_count=1&_viewproject_WAR_Projectportlet_jspPage=%2Fhtml%2Fviewproject%2Fview.jsp&_viewproject_WAR_Projectportlet_ppp=Government+Infrastructure+Projects+%28PPP%29&_viewproject_WAR_Projectportlet_projectId=24904&_viewproject_WAR_Projectportlet_currURL=%2Fweb%2Fguest%2Fproject-list