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Signing of Concession Agreement for Road Project in
Andhra
Pradesh
Concession agreement for implementation of four laning of 74 Kmtr
Kotakatta - Kurnool Bypass Project in Andhra Pradesh was signed
on 20th March, 2006. The Andhra Pradesh Expressway Limited (APEL),
an SPV incorporated by IL&FS and ITNL (the Consortium), has been
mandated to develop and implement a 74 km annuity based road project
(the Project). The Project will be developed under a concession
from National Highways Authority of India (NHAI) on a BOT Annuity
basis.
The project was awarded to the Consortium, pursuant to the international
competitive bid process in which the Consortium emerged as the lowest
bidder for the Project. The Concession Agreement (CA) for the project
is for a period of 20 years from the Commencement Date, which is
180 days from the date of execution of the CA. The schedule construction
period is 30 months (2.5 years). NHAI issued a Letter of Intent
(LoI) to the consortium of IL&FS and ITNL for the implementation
of the Project in February 2006. |
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