The consortium comprising of 50:50 Joint Venture between the Company and Ramky Infrastructure Limited had been issued a Letter of Award dated May 20, 2010 by the National Highways Authority of India ("NHAI") for Four Laning of Jorabat – Shillong (Barapani) Section of NH-40 from Km 0.000 to Km 61.800 in the State of Assam & Meghalaya on Design, Build, Finance, Operate and Transfer (DBFOT) pattern under Special Accelerated Road Development Programme – North East (SARDP – NE) (the "Project"). The Project is on Annuity basis with a concession period of 20 years including construction period of 3 years. The estimated cost of the Project is Rs. 536 Crores and the semi-annual Annuity for the Project is Rs. 72.51 Crores

We are pleased to inform you that today; the Concession Agreement for the captioned Project was signed between NHAI and Jorabat Shillong Expressway Limited, the Special Purpose Vehicle incorporated by the Company for undertaking the Project.