Parsuram Arawali section of NH-66

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The project envisages four laning of Parsuram - Arawali Section of NH-66 from 205.40 km to 241.30 km in Ratnagiri district under NHDP-IV. Parsuram Arawali Highways Pvt Ltd, a SPV being an equal JV between Chetak Enterprises and Eagle Infra India is leading the implementation of the project. The SPV has entered into 17 year concession agreement (including construction period of two years from the appointed date) with MoRTH through Public Works Department on October 4, 2016 for the design, build, finance, operate and transfer (DBFOT) of 35.9 km road project on HAM basis. 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. The total cost of the project is Rs.670 crore ($104.4 million) being funded through debt of Rs.320 crore ($49.9 million), construction grant from MoRTH of Rs.268 crore ($41.8 million) and balance through promoter’s contribution ($12.7 million). Financial closure was reported to have reached in August 23, 2017. However, as of January 2018 lenders have not been disclosed. CARE Ratings, WB libraries 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=27712&_viewproject_WAR_Projectportlet_currURL=%2Fweb%2Fguest%2Fproject-list Eagle Infra India Ltd. to be added to sponsors list