Annual Report 2010-2011 - Gammon India

4. Patna Highway Projects Limited (PHPL)
PHPL is the SPV incorporated for design, construction, finance and maintenance of a 63.17 km long
four-lane dual carriageway on NH-77, which includes new bypass of 16.87 km connecting NH-28 in
the State of Bihar on BOT (Annuity) basis.
The concession period is 15 years, ending in August, 2025, of which 12.5 years is for operations and
2.5 years is for construction. The EPC Contract for the project was awarded to GIL.
5. Indira Container Terminal Private Limited (ICTPL)
ICTPL is the SPV incorporated in September 2007 to undertake the implementation, development,
operation and maintenance of two Offshore Container Terminal berths at Mumbai harbor (OCT
Project), operation and maintenance of existing container operation of Mumbai Port Trust (MbPT) at
its Ballard Pier Station (BPS), off the coast of Mumbai on BOT basis.The license period for the project
is 30 years, including 3 years of construction and equipping. The EPC contract of the project has been
awarded to GIL. The total capitalization of the project is ` 24,130 Lakhs as of March 31, 2011.
6. Blue Water Iron Ore Terminal Private Limited (BWIOTPL)
BWIOTPL is the SPV for design, finance, construction, operation, maintenance and marketing of an
iron ore handling facility in Paradip port, Orissa and the provision of related services. The terminal is
being designed to handle a minimum of 10 million tons of iron ore annually at an estimated project
cost of ` 56,800 lakhs.
The concession agreement was signed in July 2009 with a concession period of 30 years, including
3 years of construction.
7. Pravara Renewable Energy Limited (PREL)
PREL is the SPV incorporated for design, construction, finance and operation of a 30 MW
co-generation power project on BOOT basis with Padmashri Dr. Vitthalrao Vikhe Patil Sahakari
Sakhar Karkhana Limited (“Karkhana”) in Pravara Nagar, Maharashtra.
As per the Project Development Agreement executed with Karkhana, PREL shall be responsible
for designing, development, procurement, installation, erection commissioning, operation and
maintenance of the co-generation facility for a period of 25 years after commercial operation
date. The co-generation plant will be set up within the premises of the Karkhana and a land lease
agreement is already signed.
8. Sikkim Hydro Power Ventures Limited (SHPVL)
SHPVL is the SPV floated to develop 66 MW Rangit II Hydroelectric Power Project in Sikkim on
BOOT basis. The project involves the development of a 66 MW run-of-the-river Hydroelectric Power
Project on the Rimbi River, a tributary of Rangit River.
9. Youngthang Power Ventures Limited (YPVL)
YPVL is the SPV incorporated to implement the project involving the development of a 261 MW
run-of-the-river hydroelectric power project in Himachal Pradesh on a BOOT basis at an estimated
cost of ` 250,000 lakhs. The concession period of the project is 40 years, post commencement of
commercial operations.
C. Other Projects in pre-development phase
The following other projects are also under development by the Company.
1. SEZ Adityapur Limited (SEZAL)
SEZAL was incorporated to implement the project of development of an SEZ for automobile and
auto components at Adityapur, in Jharkhand in eastern India. The state government is expected to
lease out the land to the SPV measuring approximately ninety (90) acres for a period of 90 years.
Adityapur Industrial Area Development Authority is the nodal agency for the project.
2. Tidong Hydro Power Limited (THPL)
THPL was incorporated by the Company for developing a 60 MW hydro-electric project in Himachal
Pradesh for which it had received a letter of intent (LOI) from the Government of Himachal Pradesh
(GoHP).
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