The project to execute up-gradation, modernization, construction, operation and maintenance of 24 Border Check Posts (BCPs) and two Central Control Facilities in Madhya Pradesh is facing both time and cost overrun. The project was initially scheduled for completion in May 2013. However this date was extended to January 2014 and now once again to May 2015. The time overrun is mainly due to lack of availability of RoW and land acquisition disputes. The project is expected to see cost overrun of Rs. 129 crore. As on March 31, 2014, project has achieved a physical progress of 65%.
The project is being implemented by MP Border Checkpost Development Company Limited (MPBCDCL) which is a SPV sponsored by ITNL and Spanco in the ratio of 74:26. MPBCDCL has won the project on Build, Operate and Transfer (BOT) basis for a period of 12.5 years. The aggregate cost of the project is estimated at Rs. 1,350 crore, which is being financed in a Debt: Equity ratio of 70:30.