Welspun Enterprises Project Updates
Welspun Enterprises Limited announced updates on the projects.
HAM Road Projects: All projects are with full financial tie-ups and are in the advanced stage of implementation as detailed below:
Delhi-Meerut Expressway (Delhi-section)
♦ Project Description: 14 Lane expressway: Six-laning of Delhi - Meerut Expressway & four-laning either side from 0th km to existing km 8.4 of NH-24 in Delhi
♦ Completion cost: Rs. 8.87 billion
♦ Status: Received the first annuity in January 2019 within the stipulated time of 15 days from the completion of 6 months from provisional COD. The provisional COD was achieved 11 months ahead of the scheduled date. Annuity details are given in the below table:
|S. No.||Description||Amount (Rs. in million)|
|1||1st Annuity instalment||112|
|2||Interest on completion cost (currently 9.75% p.a.p.m)||261|
|3||O & M payments||22.1|
♦ Early completion bonus of Rs. 287 million has been approved by Independent Engineer (IE) and is in the process of approval by NHAI
♦ Project Description: 4-Laning of Gagalheri-Saharanpur-Yamunanagar section of NH-73 in UP / Haryana
♦ Bid Project Cost: Rs. 11.84 billion
♦ Status: Physical progress of more than 40% has been completed by Q3FY19 and the project is on track for an early completion.
Chutmalpur-Ganeshpur & Roorkee-Chutmalpur-Gagalheri (CGRG)
♦ Project Description: 4-Laning of Chutmalpur-Ganeshpur section of NH-72A & Roorkee-ChutmalpurGagalheri section of NH-73 in UP & Uttarakhand
♦ Bid Project Cost: Rs. 9.42 billion
♦ Status: Physical progress of more than 35% has been completed by Q3FY19 and the project is on track for an early completion.
Aunta-Simaria (Ganga Bridge with Approach Roads)
♦ Project Description: Six- Laning from Aunta-Simaria (Ganga Bridge with Approach Roads) Section from km 197.9 to km 206.1 of NH-31 in Bihar. Includes widest extradosed bridge on Ganga river
♦ Bid Project Cost: Rs. 11.61 billion
♦ Status: NHAI declared the Appointed Date for the Project as 30th August 2018; execution in full swing.
♦ Project Description: 4-laning of Chikhali – Tarsod (Package-IIA) section of NH-6 from km. 360.0 to km.422.7 in Maharashtra
♦ Bid Project Cost: Rs. 10.48 billion
♦ Status: NHAI declared the Appointed Date as 16th January 2019; execution has commenced.
♦ Project Description: 4 laning of Sattanathapuram to Nagapattinam (Design Ch Km 123.8 to Km 179.6) section of NH-45A (New NH -332) in Tamil Nadu
♦ Bid Project Cost: Rs. 20.04 billion
♦ Status: Received Letter of Award (LoA) in July 2018; signed concession agreement on 3rd Dec 2018. The company has received firm sanction letter from lenders for financial closure.
Package No. AM2 (Maharashtra Amravati)
♦ Project Description: Upgradation of Roads in Maharashtra State or Two Laning Road/ Two Laning Road with paved shoulder under MRIP Package on Hybrid Annuity Mode (HAM) Package No. AM 2.
♦ Key Features: Concessionaire to receive 60% of the Bid Project Cost (BPC) during the construction period (vs. 40% in NHAI projects); balance 40% of BPC and O&M payments is paid back in semiannual instalments in a period of 10 years (vs. 15 years in NHAI projects)
♦ Bid Project Cost: Rs. 14.6 billion
♦ Status: Received Letter of Award in Nov 2018; concession agreement signed on 10th Jan 2019. The company has received firm sanction letter from lenders for financial closure.
♦ Project Description: Modified project involves the supply of treated water of up to 23 MLD to industrial customers in Dewas
♦ Project Cost: Rs. 1.46 billion
♦ Status: Execution in full swing, physical progress of more than 70% has been completed; project expected to be completed ahead of the scheduled completion date of May 2019.