Pondicherry - Tindivanam NH-66

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In July 2007, the National Highway Authority of India (NHAI) signed a 30 year concession contract (including 30 month of construction period) to a consortium of Maytas Infra Limited (Maytas) and Nagarjuna Construction Company Limited (NCC) to strengthen and widen the 39 km stretch of the NH-66 from Pondicherry to Tindivanam the state of Tamil Nadu. 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 III, was expected to ease traffic congestion between Tamil Nadu and the Union Territory of Pondichery, and give significant stimulus to trade and commerce in the entire region. The consortium established Pondichery-Tindivanam Tollway Limited (PTTL), 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$ 11.25 million. Apart from this upfront payment by NHAI, PTTL 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 July 2007. The total capital cost of the project was estimated at US$ 71.25 million. Construction on the project began in July 2007 and was expected to be completed by January 2010. www.projectstoday.com www.pppinindia.com www.nhai.org www.infrastructure.gov.in