Manaj Tollway Private Limited

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In November 2011, the Maharashtra Public Works Department (PWD) awarded a 25-year concession (including construction period of 3 years) to a consortium of Man Infraconstruction Limited and Ajwani Infrastructure Private Limited, for the strengthening, improvement, widening, operation and maintenance, and tolling of 41kms of Hadapsar Saswad Belsar Phata Section of State Highway No. 64 from KM 9.800 to KM 42.860 and Belha Pabal Uralikanchan Jejuri Nira Section of State Highway No. 61 from KM 110.00 to KM 118.00 at Taluka Purandar, Pune in the state of Maharashtra. Under the contract, the consortium was responsible for the design, construction, finance, operation and maintenance,strengthening and widening the existing bitumen road to a 4-lane highway with rigid pavement. The project included the widening of existing and new major and minor creek bridges, flyovers, vehicular and pedestrian underpasses, toll plazas and foot over-bridges. Besides cutting down on travel time, the other benefits expected of this road widening are increase in traffic and trade activities, entry of more businesses in the region and infrastructure developments. The consortium of Man Infraconstruction Limited (64%) and Ajwani Infrastructure Private Limited (36%), established Manaj Tollway Private Limited on 18th November 2011, a special purpose vehicle, to implement the project. The SPV won the tender through domestic competitive bidding, conducted by PWD Maharashtra. Details of bidding could not be ascertained at the time of collection of this information.Under the contract, the SPV was to recover the capital costs and operating costs including returns through tolling during the term of concession. The concession agreement for the project was signed on 10th July 2012. The project was yet to attain financial closure at the time of collection of this information. The estimated capital cost of the project at the time of bidding was US$ 71.7mn (INR 3583.7mn @50 INR/USD). Construction on the project was expected to begin in July 2012 and was expected to be completed by June 2015.