The Highways Infrastructure Trust on Friday received a letter of award from the National Highway Authority of India for a road project in Telangana that will involve a concession period of 20 years.
The trust, through a special purpose vehicle, is required to pay an upfront concession fee of Rs 6,661 crore to NHAI, the company said through an exchange filing.
The letter of award includes the tolling, operation, maintenance and transfer of MH/TS Border of Armur and Adloor Yellareddy to Bowenpally of NH-44 in the state of Telangana. The total length of the road for the tolling rights and operational obligation is 251.58 km.
The tolling rights and operational obligations of the trust will begin from the appointed date as determined under the terms of the concession agreement.
The current portfolio of the Highways Infrastructure Trust comprises assets under management worth Rs 10,200 crore, with a total length of over 3,580 km across nine states of India. The trust manages 15 projects and 22 operational toll plazas.
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