May 15 2010
L&T Krishnagiri Walajahpet Tollway Private Limited, an SPV incorporated by Larsen & Toubro (L&T), has signed a Concession Agreement with the National Highways Authority of India (NHAI) for six laning of 148.30 km Krishnagiri-Walajahpet Highway of NH 46 in Tamil Nadu.
The project will be executed on a BOT DBFO (Design Build Finance & Operate) basis, with a concession period of 30 years. The estimated project cost is around Rs. 1450 crore, and it is scheduled to be completed within a period of 30 months. The concessionaire is entitled to collect toll from the users of the highway during the concession period, including the construction period.
As part of Phase-V of the National Highways Development Programme (NHDP), NHAI is widening the existing four lane stretches of the Golden Quadrilateral (GQ) to six lanes. This corridor forms the main and preferred road connectivity between Chennai and Bangalore in south India, and caters to both commercial and passenger movement between the two cities.
With this project, L&T currently has 14 projects in its BOT Roads portfolio, out of which seven are presently in operation phase, 5 in construction phase, and 2 in development phase, thus cumulating in a length of 5500 lane-km, and a total investment of Rs. 13,000 crore. L&T is optimistically viewing the expanding road infrastructure space and is keen on adding a few more key road corridors in the near future.
Source: http://www.larsentoubro.com/