The Infrastructure Development Finance Company (IDFC) may acquire 26 per cent stake in a special purpose vehicle (SPV) set up by Larsen and Toubro (L&T) for its Rs 1,250-crore highway-widening project on the Vadodara-Bharuch section. The project includes a negative grant of Rs 471 crore that would be paid to the National Highways Authority of India (NHAI) by L&T. The project has a 15-year concession period, including a construction period of 30 months. L&T will undertake the widening of the existing four-lane highway to six lanes, with amenities and support infrastructure.
The project has been domiciled in a special purpose company called L&T Vadodara Bharuch Tollways, formed exclusively for the project. The concession agreement for the project would be signed between NHAI and L&T in the next few days.
L&T is also considering projects that include building IT parks in Hyderabad, Bangalore and Nagpur. This is over and above ten urban infrastructure projects that we are working on that primarily include building IT parks or residential complexes for IT firms in various cities including Hyderabad, Kolkata, Chennai and Colombo (Sri Lanka).
These projects are being implemented with partners.
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| Posted : 7/12/2006 |
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