Megaproject 93: India approves $308 million road BOT project
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The Cabinet Committee on economic affairs (CCEA), the Indian authority in charge of approving the implementation of road projects, on 24 September, gave its approval for 6/8 laning of the port road of the Jawaharlal Nehru Port Trust (JNPT) in Maharashtra, at a cost of Rs1,943.37 crore (US$308 million), on a build, operate and transfer (BOT-annuity) basis.
The project, including design, construction and funding, will be undertaken by the Mumbai JNPT Port Road Company (MJPRCL), a CCEA release said.
JNPT holds close to 29.85% shareholding in the SPV while the National Highways Authority of India is a major shareholder with 63.33% stake and state development body, City and Industrial Development Corporation of Maharashtra (Cidco), has a 6.72% stake.
The total length of the road will be approximately 43.912 km, of which 20.95 km will be of 6-lane and 22.962 km will be of 8-lane.
Mumbai JNPT Port Road Co invited RFQs from potential companies for the project on 22 October 2012. Last date for the submission of bids was 19 November 2012.
The project will expedite improvement of infrastructure in the State of Maharashtra and also reduce the time and cost of travel for traffic, particularly heavy traffic, going towards JNPT. The project corridor highway consists of NH-4B and NH-348. This network connects the JNPT including its proposed Navi Mumbai International Airport in the State of Maharashtra.
Source: CCEA
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