Man Infraconstruction
Ltd, a
leading construction
company,
has won its first
BOT road project in
India.
The company's subsidiary,
Manoj Tollway
Pvt. Ltd, recently signed
the concession agreement
with Maharashtra
PWD which awarded the
358-crore contract.
Under the agreement
the subsidiary will four
lane two state highways
across a length of about
41 km.
The two state highway
stretches are the Hadapsar-
Saswad-Belsar-
Phata section of SH-64
from km 9.800 to km
42.860 and Belha-Pabal-
Uralikanchan-Jejuri
Nira section of SH-61
from km 110.00 to km
118.00 in Purandar taluka
in Pune district.
"This is Man Infra's
first BOT project in the
road segment. The project
will be financed via
debt and equity which
will also include viability
gap funding from the
PWD," a company official
told Projectmonitor.
The scope of work
includes rehabilitation,
upgradation and widening
of the existing carriageway
from two lanes
to four lanes with the
construction of new
pavement, rehabilitation
of existing pavement,
construction and
rehabilitation of major
and minor bridges, culverts,
road intersections,
interchanges, & drains.
The DBFOT project
will have a concession
period of 25 years,
including construction
period of three years
with operation and
maintenance thereof.
The work will commence
on the date of
achievement of financial
closure.
The official said that
delay in land acquisition
was one of the major
challenges faced while
executing road projects.
"But we will continue to
look for opportunities
and invest in financially
viable projects in the
road BOT segment. We
are also in the process of
bidding for a few port
construction projects
across the country," he
asserted. However, an
effective and efficient
mechanism for speedy
clearance of projects was
needed, he added.
Man Infra’s other current
projects include residential
projects from
Kumar Developers,
Paranjpe Group, Pimpri
Chinchwad Municipal
Corporation, etc.