Navayuga Devanahalli Tollways Pvt Ltd - NDTPL

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Navayuga Devanahalli Tollways Pvt Ltd (NDTPL) was created to implement a project that entailed the upgrading of 22.12 km of existing 6 lane carriageway to a new 6 laned elevated highway with continuous 10 metres wide service roads on the Hyderabad Bangalore section of national highway No 7, India. National Highways Authority of India awarded the concession to Navayuga Engineering Co Ltd (and EPC contractor) under a DBOT(toll) concession under the National Highway Development Programme (NHDP) Phase-VII. The project was expected to reduce the time and cost of travelling between Devanahalli and Hebbal and to the Bangalore airport and improve the transport facilities for tourists. Navayuga Devanahalli Tollways Pvt Ltd was a subsidiary of Navayuga Engineering Co Ltd. The concession period of the project was 20 years, including construction period of 30 months. The project construction started in November 2010 and was expected to conclude in November 2012. At the time the project was approved by the central government (January 2010), the project cost was estimated to be Rs 6793.6 milion (US$148.6 million). The project cost was estimated to be Rs8.8 billion ($192.4 million) at financial closure. Financial close was on 6 Nov 2010. Financing comprised a Rs6.6bn 20-year term loan debt and a Rs2.2bn equity. The debt was arranged by Bank of India, Bank of Maharashtra, India Infrastructure Finance Co, Oriental Bank of Commerce, State bank of Hyderabad, State bank of India, Union Bank of India and Vijaya Bank.