Waranga - Mahagoan section NH-361

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The scope of the works involves the four laning of Waranga - Mahagoan section on NH-361 in the State of Maharashtra. The total length of the road is 67 kilometers. Sadbhav Vidarbha Highway Private Limited is the special purpose vehicle that is undertaking the project on behalf on the sole sponsor - Sadbhav Engineering Ltd. The concession was signed in 2016 following a competitive bidding process with bid criteria being the lowest cost of construction and operation. Sadbhav Vidarbha Highway Private Limited appeared to be the lowest bidder in the auction, thus bagging the right to undertake the project. This is a brownfield project being developed under a BROT modality, with a concession period of 15 years, excluding 2.5 years of construction works. This project falls under the new Hybrid Annuity model, which is a mix of engineering, procurement and construction (EPC) and build operate transfer (BOT) system. According to HAM, the project costs would be split between the sponsor, NHAI and debt financing arranged by the sponsor. Thereafter, NHAI would repay the costs incurred by the private sponsor through repayment of installments, plus interest thereon over the life span of the concession. Financial Close was achieved on November 3rd, 2017 within the timelines stipulated in accordance with the Concession Agreement dated 7th June, 2017. The total investment amounts to 1071 crore ($165.6 million). As of December 2017, no further details are available for the project financing. http://www.business-standard.com/article/news-cm/sadbhav-infrastructure-project-provides-project-update-117110301312_1.html