NHAI awards projects worth Rs 109.12 bn

February 23, 2008

The National Highways Authority of India (Q, N,C,F)* (NHAI) awarded 5 projects, worth Rs 109.12 billion, of six-laning of highways under the National Highway Development Programme Phase-V (NHDP-V), reports Business Standard.

NHAI awarded projects to infrastructure developers, including Larsen & Toubro, Emirates Trading, IRB, Isolux Corsan, and Soma Enterprises among others. These 882 kilometres of sections for six-laning of highways are under the Golden Quadrilateral (GQ) and North-South Corridor. Under the NHDP-V, 6,500 km of existing four-laned national highways (NHs) have to converted into six-lane highways through a build-operate-transfer (BoT) basis. Of the total length, 5,700 km is on GQ and 800 km on other sections.

The five awarded projects include 43.4 km on the Chennai-Tada stretch on NH-5, 225.6 km on the Gurgaon-Kotputli-Jaipur stretch on NH-8, 239 km on the Surat-Dahisar stretch on NH-8, 291 km on the Panipat-Jalandhar stretch on NH-1.

These are the first batch of projects which have been awarded on a new model concession agreement (MCA) approved by the Committee of Infrastructure recently. The new agreement will work on revenue-sharing model where the private developers will share 17% – 48% of their toll-revenue with the NHAI within 180 days of signing the agreement. Under the old agreement, the NHAI projects were awarded on the bidding parameter of positive or negative grants.

Source: myiris.com