Kurali-Kiratpur NH-21

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In December 2006, the National Highway Authority of India (NHAI) signed a 20 year concession contract (including 30 month of construction period) to a consortium of C&C Constructions Ltd. (C&C) and B Seenaiah Company (Projects) Ltd. (BSCPL) to strengthen and widen the 44 km stretch of the NH-21 from Kurali to Kiratpur in the state of Punjab. Under the contract, the consortium was responsible for the design, construction, finance, operation and maintenance and widening of the existing two-lane highway to a four-lane highway with paved shoulders. The expansion project, part of National Highway Development Project - Phase IIIA and Special Accelerated Development Project, was expected to ease traffic congestion and give significant stimulus to trade and commerce in the entire region. The consortium established BSC-C&C Kurali Toll Road Limited, a special purpose vehicle, to implement the project. The consortium won the competitive tender, conducted by NHAI, by making the lowest fixed subsidy request of US$ 10.98 million. Apart from this upfront payment by NHAI, the company was to recover the capital costs and operating costs including returns through tolling during concession period (excluding construction period). The project reached financial closure in December 2006. The total capital cost of the project was estimated at US$ 77.25 million. Construction on the project began in December 2006 and is expected to be completed by June 2009. www.projectstoday.com www.pppinindia.com www.nhai.org www.infrastructure.gov.in http://economictimes.indiatimes.com/articleshow/2162595.cms http://www.moneycontrol.com/stocks/company_info/company_history.php?sc_did=CCC01