Shirwal Phaltan Baramati Project (SPBDPL)

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Shirwal Phaltan Baramati Project consisted of widening from two to four lanes road from Km 42/400 to 64/300 of Baramati Phaltan Road SH and Km 136/00 to 80/00 of Phaltan Lonand Shirwal Road SH. The Project highway to be widened had 77.9 kms long 11.75 km length service roads. The total lenght of the project was 77.9 km. The Maharshtra Government awarded the project to IVRCL via competitive tender in September 2009. The project was awarded on Build Operate and Transfer (BOT) Basis for 25 years. The BOT concessionaire was to recovered investment through toll fees. IVRCL Infrastructure owned 75% of the project company. The was no information on the owner of the remaining 25%.The concession agreement was singed in November 2009. The project cost was estimated to be INR3,820 million (US$ 83.5 million). IVRCL Infrastructure & Projects secured the finance for this project in Febraury 2010. The project company obtained a INRs 1,910 million of debt with a single bank. Of the remaining funds, Rs 690 million was sponsor funds and Rs 1220 million (US$26.7 million)was a grant from the state government.