Upgradation of Churu-Bhaleri Road

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The project involves upgrade of Churu-Bhaleri Road. The total length of the sections is 35 km. The concession contract was awarded by National Highway Authority of India to the sponsor following a competitive bidding process based on the lowest cost of construction and operation. This project falls under the Hybrid Annuity mode, NHDP-IV. Under the Concession Agreement, construction of the Project is to be completed within 2 years from the Appointed Date and is to be maintained for 15 years thereafter, post which it will be transferred to NHAI. Hence total concessional period is 17 years. The sponsor will recoup its investment not by collecting toll fees, but by receiving fixed and variable annual payments from NHAI. Total investment cost stands at Rs 63.59 crore ($9.96 million). As a HAM project, the means of financing are as follows: NHAI will provide Rs 25.44 ($3.98 million or 40%) as capital subsidy for the construction, while the sponsor will arrange the remaining funds as debt and equity in 48:12 ratio ($4.78 million and $1.2 million, respectively). Financial close was achieved in January 2018. http://plan.rajasthan.gov.in/content/dam/planning-portal/planning-dpt/Wings%20under%20%20Planning/Public%20Private%20Partnership/Status%20Of%20PPP%20Projects/Projects%20Under%20Implementation/Projects%20under%20Implementation.pdf.#projects-under-implementation