Annual Report 2010-2011 - Gammon India

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3. Cochin Bridge Infrastructure Company Limited (CBICL):
A NNUAL R EPORT I 2010/11
CBICL is an SPV promoted for developing the New Mattancherry Bridge Project, in Cochin, Kerala
on BOT (toll) basis. The 750 mtrs. long bridge connects Fort Kochi (a heritage town and a famous
tourist site) to Willingdon Island in the Cochin Port Trust area and is operational since the preceding
8.5 years.
The construction was completed 10 months ahead of schedule, which resulted in the early collection
of toll revenues. At present, the bridge witnesses daily traffic of around 18,000 passenger car units.
The project had been capitalized at ` 2,574 lakhs.
4. Mumbai Nasik Expressway Limited (MNEL):
MNEL is the SPV created for widening, strengthening and operating the 99.5 km Vadape–Gonde
(Mumbai–Nasik) section of NH–3 on BOT basis. The project is part of the NHDP Phase III. The
concession period for the project is 20 years, including a 3 year construction period. The total project
cost is estimated to be ` 898 crore.
Financial closure for the project has been achieved and presently the project is under its implementation
phase, with a total capitalisation of ` 7,780 lakhs as of March 31, 2011.
The EPC Contract for the project was awarded to GIL. The responsibilities of Operations (toll collection
and Maintenance) of the project was awarded to GIPL. The project achieved partial completion for a
stretch of 64 km in May, 2010 and has commenced operations (Toll Collections).
5. Vizag Seaport Private Limited (VSPL):
VSPL is the SPV formed to develop, construct, operate and manage two multi-purpose berths in the
northern arm of the inner harbour at Visakhapatnam Port on BOT basis. VSPL has developed the
berths and terminal as a fully mechanized integrated handling system incorporating state-of-the-art
technologies, capable of handling cargo up to 9 MMTPA.
As of March 31, 2011 the project has been capitalized at ` 31,858.80 Lakhs. VSPL has the rights to
operate the project for another 21 years.
6. Punjab Biomass Power Limited (PBPL)
PBPL is the SPV formed to develop up to nine biomass based power projects, each having power
generation potential in the range of 10 MW to 15 MW, in the State of Punjab. Rice straw, available
abundantly in Punjab, will be the chief fuel for these projects. In addition, the projects will also use
other biomass such as rice husk
B. Projects under Active development
1. Rajahmundry Godavari Bridge Limited (RGBL)
RGBL is the SPV incorporated for design, construction, operation and maintenance of a 4.15 km long
four-lane bridge, which will connect Kovvur and Rajahmundry in Andhra Pradesh across the Godavari
River, with 10.34 km of approach roads. The concession period for the project is 25 years, including a
construction period of three years. The total project cost is estimated to be ` 86,110 lakhs. The EPC
Contract for the project was awarded to GIL.
2. Kosi Bridge Infrastructure Company Limited (KBICL)
KBICL is the SPV incorporated for design, construction, development, finance, operation and
maintenance of a 1.8 km long four-lane bridge across river Kosi with 8.2 km of access roads and
bunds for flood protection on NH-57 in the Supaul district of Bihar on BOT(Annuity) basis. The
concession period is 20 years, ending in April 2027, of which 17 years is for operations and 3 years is
for construction. The EPC Contract for the project was awarded to GIL.
3. Gorakhpur Infrastructure Company Limited (GICL)
GICL is the SPV incorporated for design, construction, finance and maintenance of a 32.27 km long
four-lane bypass to Gorakhpur town on NH-28 in the State of Uttar Pradesh on BOT (Annuity) basis.
The concession period is 20 years, ending in April, 2027, of which 17.5 years is for operations and 2.5
years is for construction. The EPC Contract for the project was awarded to GIL. GICL will receive an
annuity payment of ` 4,860 lakhs from NHAI, semi-annually, during the entire operations period.
The total project cost is estimated to be ` 68,601 lakhs.