Physical Infrastructure

Transportation

Kotakatta-Kurnool Road Project

Andhra Pradesh Expressway Limited (APEL) has been incorporated by IL&FS and ITNL for the development, implementation and operation and maintenance of 74 km annuity based road project, stretching from Kotakatta to Kurnool in Andhra Pradesh. The project entails the strengthening and widening of the 74 km, two-lane stretch on National Highway-7 to a two-lane divided dual carriageway at an estimated cost of Rs 7,450 mn. The project was developed under a concession from NHAI on a BOT basis

NHAI invited proposals for the Project by floating tenders for 15 Projects on NSEW Corridor on BOT (Toll based) or BOT (Annuity) basis under a single stage bidding process i.e. Qualification cum Price Proposal. Based on the bidders’ experience in implementing infrastructure projects and their financial strength, scores were allocated. The bidders were required to quote Annuity to be paid by NHAI to the concessionaire towards construction, operation and maintenance of the road throughout the operations period of 17.5 years. NHAI after evaluating the proposals, awarded the Project to the IL&FS - ITNL consortium that had quoted the lowest annuity amount of Rs 565.2 mn (payable semi- annually)

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). The Project achieved Financial Close on April 21, 2006

APEL will receive a project annuity of Rs 1,130.4 mn p.a. during the operating period of 17.5 years, post completion of project construction, in semi-annual installments of Rs 565.2 mn each. The annuity payments are secured through an irrevocable revolving Letter of Credit, equivalent to one annuity installment by NHAI in favour of APEL

APEL engaged the services of KMC Construction Limited for the construction of the Project. ITNL will perform the role of an O&M contractor for the Project

Projects in this Sector
  • Ahmedabad-Mehsana Toll Road
  • Chenani Nashri Tunnelway Limited
  • Delhi-Noida Toll Bridge
  • East Coast Road
  • Hazaribagh Ranchi Expressway Limited
  • Karnataka Toll Bridges
  • Kotakatta-Kurnool Road Project
  • North Karnataka Expressway
  • Punjab Roads
  • Rehabilitation & Resettlement Programme for Mumbai Urban Transport Project
  • Thiruvananthapuram City Road Improvement
  • Vadodara - Halol Toll Road
  • West Gujarat Expressway

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