Page 44 - COAug2022

INFRASTRUCTURE TICKER TAPE Dhruv Consultancy Services Limited has received the Letter of
DHRUV CONSULTANCY RECEIVES LOA FOR
ENGINEERING SERVICES FOR SIKAR - BIKANER SECTION
OF NH-11

Acceptance (LOA) for the Independent Engineering Services
during the Development and Operation of Sikar - Bikaner Section
of NH-11. It extends from Km. 340.188 of NH-11 to Km. 557.775
of NH-11 via Sikar Bypass and Bikaner Bypass. Further, from Km.
553.869 of NH-11 to Km. 267.325 of NH-89 by two-laning with a
paved shoulder in the state of Rajasthan via a Public-Private
Partnership on Design, Finance, Build, Operate, and Transfer (the
NHAI TO GARNER `4,200 CRORE FROM TWO TOT DBFOT), from the office of the Chief Engineer.
PROJECTS The fees for Individual Engineering Services for the said project will
The National Highways Authority of India (NHAI) will get `4,200 be `4.15 crore, excluding taxes. The contract period is expected to
crore as upfront payment from monetisation of two operational be completed within a period of 36 months. The Company must
highway stretches with a combined length of 200 km under the submit the Performance Bank Guarantee/Security within 7 days of
toll-operate-transfer (TOT) model. receiving the LOA, after which all statutory formalities, including the
Sources said National Investment and Infrastructure Trust (NIIF) signing of the contract agreement as per the RFP, must take place.
has offered to pay the highest `3,011 crore for a 72-km stretch At around 1.04 PM, Dhruv Consultancy was trading 6.53% higher
on NH-19 in Uttar Pradesh for the ninth TOT bundle. Sekura Roads at `49.75 against its previous close of `46.70 on NSE. It touched
has offered `1,711 crore for the tenth bundle, which consists of a intraday high and low of `54.10 and `48.10 respectively, so far.
125-km stretch on NH-36 in Madhya Pradesh. The financial bids
for the two TOT bundles were opened on Monday. GOVT APPROVES CONSTRUCTION OF `2,415-CR
NIIF is a collaborative investment platform for international and PROJECT TO CONNECT HARYANA WITH JEWAR AIRPORT
Indian investors anchored by the government. Sekura Roads is IN UP
a portfolio company of Edelweiss Infrastructure Yield Plus fund. Union minister Nitin Gadkari recently announced that the
Under the TOT model, operators collect user fee on the stretches government has approved the construction of a road linking
following the prescribed rates by the NHAI to recoup their Haryana to the upcoming Jewar International Airport in Gautam
investments; but they have to operate and maintain the stretches Budh Nagar district of Uttar Pradesh. The construction of greenfield
during the entire concession period — 15 years each for the ninth connectivity to Jewar International Airport (connecting Delhi-
and tenth bundles. Mumbai Expressway) from DND Faridabad-Ballabhag Bypass KMP
However, NHAI sources said, the highest quote for a TOT bundle link in Gautam Budh Nagar district under Bharatmala project in
does not mean winning of the bid. The NHAI Board will meet soon Uttar Pradesh and Haryana with a budget of `2,414.67 crore has
to evaluate the highest bids for the two stretches. If found not been approved, Gadkari said. In a series of tweets, the minister
matching with its expectations, it may also annul the bids, like it said this road will be constructed on hybrid annuity mode with a
did for the sixth and seventh bundles. total length of 31.425 kilometres. The construction period will be
Sources said Adani Enterprises (`2,610 crore), Cube Highways two years and the project will also connect Agra, Mathura and
(`2,500 crore), IRB Infrastructure Trust (`2,421) and PNC Infratech western Uttar Pradesh, the road transport and highways minister
(`1,345 crore) were among the seven companies competing for added. Gadkari also said that the construction of two flyovers with
the ninth bundle. There were five bidders in all for the tenth bundle, total length of 2.5 kilometres at Kushinagar, place of Lord Buddha’s
which also included Adani (`814 crore), IRB (`756 crore), Oriental Parinirvana in Uttar Pradesh, has been sanctioned with a budget
Structural (`699 crore) and PNC Infratech (`405 crore). of `42.67 crore. These flyovers will be completed in 18 months, he
From the fifth bundle onwards, the government decided not said, adding that with their construction, the arrival of domestic
to disclose the reserve price for the TOT bundles at the time of and foreign tourists will be facilitated and the problem of traffic
inviting bids, leaving it to the market to discover the price. It was jam for local people will be solved.
also decided that the reserve price would be announced after
opening the financial bids. Using the TOT model, the NHAI has ASHOKA BUILDCON JV EMERGES LOWEST BIDDER FOR
been monetising highway stretches since 2018. However, apart `611 CRORE PROJECT
from TOT, it has the permission to raise funds through Infrastructure Ashoka Buildcon Limited had submitted its bid in Joint Venture
investment trust (InvIT) and toll securitisation. So far, the TOT mode (the Company is a Lead Member) with Cube Construction
has fetched the authority `31,200 crore. Its maiden InvIT has Engineering Limited to Department of Information Technology &
fetched `8,000 crore. The authority has also received `21,000 Communication, Govt. of Rajasthan (“Authority”) for the Project
crore by way of toll securitisation. viz. ‘Request for Proposal for Selection of Agency for Construction
The monetisation proceeds are used to lay newer highway and Maintenance of Rajiv Gandhi Fintech Digital Institute, Jodhpur’
stretches and retire debt that mounted to `3.5 trillion at the end of (Project). The awarded Bid Project Cost for the Project is `611 crore
2021-22. The authority has drawn up a plan to monetise 21,700-km and the share of the Company in JV is 65%.
stretch in the next three years, starting from 2022-23. The Construction period is 18 months from commencement date.

44 CONSTRUCTION OPPORTUNITIES|AUGUST 2022