Tantia Batala Beas Tollways Private Limited

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In October 2012, the Punjab Infrastructure Development Board (PIDB) awarded a concession to Tantia Constructions Limited for the strengthening, improvement, two-laning, operation and maintenance, and tolling of 35.39kms (from KM0.000 to KM35.393 (MDR 66) of existing Batala-Mehta-Beas carriageway in the State of Punjab.Details of concession couldn't be ascertained. Under the contract, Tantia Constructions was responsible for the design, construction, finance, operation and maintenance, strengthening and widening the existing carriageway of Batala-Mehta-Beas section of state highway MDR66 to two lane standard with paved shoulders.The scope would include construction of new pavement, rehabilitation of existing pavement, construction and/or rehabilitation of major and minor bridges, high embankment/ elevated structures/ROBs, wayside amenitie, sculverts,road intersections, interchanges, etc. This Link road which would eliminate traffic congestions on the route besides benefiting the traffic on NH-1 (Jalandhar-Amritsar) and NH-15 (Amritsar-Pathankot Road) and give significant stimulus to trade and commerce in the entire region. Tantia Constructions established Tantia Batala –Beas Tollways Private Limited, a special purpose vehicle, to implement the project. The SPV won the tender through domestic competitive bidding, conducted by PIDB. Details of bidding couldn't be obtained 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 2nd November 2012. The project cost reported by concessionaire was US$ 24mn (INR 1200mn @ 50INR/USD). Details of financing could not be ascertained at the time of collection of this information. Construction for the project was expected to start in April 2013 and be completed by December 2014. Construction period as per the tender was 18 months.