Udaipur - Rajasthan NH-8 Toll Road Expansion

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The project involves six laning of Udaipur to Rajasthan / Gujarat Border section on NH-8 (Package-V) of Kishangarh-Udaipur-Ahmedabad stretch under NHDP-V. The total length of the road is 113.8 kilometers. Udaipur Tollway Pvt Ltd is the special purpose vehicle that will undertake the project on behalf of the sponsor IRB Infrastructure Developers. The project company will rehabilitate, own and operate the road for a concession period of 21 years and then transfer the ownership of the assets to NHAI. The contract was awarded to IRB following an international competitive tender process. The criteria for winning the concession was the highest premium paid to the NHAI. IRB quoted a premium of $25.2 million, payment of which will commence post three years from the Appointed Date. The estimated total investment stands at $321.6 million and is being funded through debt and equity in 70:30 ratio. Project is financed by a consortium of lenders led by Canara Bank. The others include Bank of India, Bank of Maharashtra, Oriental Bank of Commerce, Indian Overseas Bank, Andhra Bank and Aditya Birla Finance Ltd. The lenders will fund the project to the tune of Rs 1,461 crore ($225 million) with the remaining $96.6 million being provided in the form of equity. The appointed date and commencement of construction was on September 3rd, 2017. The company started toll collection at the day of appointment, thus generating revenue from day one. https://economictimes.indiatimes.com/industry/indl-goods/svs/construction/irb-infra-reaches-financial-closure-for-rs-2088-cr-road-project/articleshow/59459396.cms http://www.irb.co.in/home/projects-under-implementation/udaipur-to-rajasthan-gujarat-border-section-of-national-highway-8-project/ http://www.infrabuddy.com/udaipur-rajasthan-gujarat-border-highway-project-start-soon/ 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=24103&_viewproject_WAR_Projectportlet_currURL=%2Fweb%2Fguest%2Fproject-list https://ijglobal.com/data/transaction/38508/udaipur-rajasthan-nh-8-toll-road-expansion-ppp