India´s cabinet approves four Laning of Hubli hospet section under EPC finally

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
India´s cabinet approves four Laning of Hubli hospet section under EPC finally

The Cabinet Committee on Economic Affairs of India, chaired by the Prime Minister Shri Narendra Modi, has approved the development of four laning of Hubli-Hospet Section of NH-63 in Karnataka. 

The cost is estimated to be INR22.7 billion (US$336.5 million) including cost of land acquisition, resettlement and rehabilitation and other pre-construction activities. The total length of the road to be developed is approximately 144 km.

This work will be done under the National Highways Development Project (NHDP) Phase-IV on Engineering, Procurement and Construction (EPC) basis

As we reported in 2012, the Cabinet Committee on Infrastructure approved the development of the road PPP project, but no bidders responded to the successive RFPs launched on 2012 and 2013. As a result, the project was temporarily put aside

The project will help in expediting the improvement of infrastructure in Karnataka and in reducing the time and cost of travel for traffic, particularly heavy traffic, plying between Hubli and Hospet section. The development of this stretch will also help in uplifting the socio-economic condition of this region in the State. 

List of country news

Country news

  • June 23, 2016

    IRB Infrastructure closes financing for road PPP

    As we reported in September 2015, IRB Infrastructure was awarded by National Highways Authority of India (NHAI) with the contract for the development of the PPP road project. The contract was signed in September 2015.The total cost of this project is INR26.5 billion, out of which equity contribution by the company will be INR8.73 billion (US$129 million) and remaining will be funded through Project finance of INR16.50 billion (US$243.5 million). The average cost of debt of this Project finance is approx. 11.25% per year.A consortium of lenders comprising of IDBI Bank Limited - Lead Institution, India Infrastructure Finance Company Ltd. (IIFCL), Bank of India, Bank of Maharashtra, UCO Bank, Andhra Bank and Punjab National Bank have financed this project. Read more
  • June 20, 2016

    India´s Niif and Qatar investment authority sign MOU to boost infra investments

    The Indian National Investment and Infrastructure Fund (NIIF) and Qatar Investment Authority (QIA) have signed a Memorandum of Understanding (MoU) to boost infrastructure investment in India. It has been signed during the visit of Prime Minister Narendra Modi to Doha. Read more
  • June 07, 2016

    MEP IDL receives Letter of Award from NHAI for four laning of Talaja - Mahuva section

    The joint venture of MEP Infrastructure Developers and its Spanish partner, Constructora San Jose has received the letter of the award from National Highways Authority of India (NHAI) for the Talaja-Mahuya Section PPP project. MEP Infrastructure Developers and Sanjose India Infrastructure & Construction hold 60% and 40% of the joint venture, respectively.  Read more
  • June 02, 2016

    Two teams compete for Reliance Infra

    According to sources, Reliance Infrastructure has shortlisted two teams for the sale of its Indian portfolio of road assets. Read more
  • June 02, 2016

    Sadbhav Infrastructure announces refinancing of road project

    Sadbhav Infrastructure has recently announced that Aurangagabad Jalna Tollway Limited, wholly owned subsidiary of the company, has completed refinancing of its existing debt facilities with new debt taken from other lenders with revised terms and conditions. Read more

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.