NESCO Secures Contract for Wayside Amenities on Hyderabad-Visakhapatnam Expressway
NESCO has won a prestigious contract to develop, operate, and maintain wayside amenities along the Hyderabad-Visakhapatnam Expressway in India. The contract was awarded by National Highways Logistics Management Limited, a subsidiary of the National Highways Authority of India (NHAI).
Key Highlights of the Contract:
- Scope of Work: Development, operation, and maintenance of wayside amenities at four sites along the Khammam-Devarapalle section of the expressway.
- Lease Period: The contract includes a 30-year lease, with an option to extend for an additional 30 years. Development is to be completed within 10 months of the appointed date.
- Financial Details:
- Estimated development cost: ₹50 crores per site, totaling ₹200 crores.
- Projected annual revenue: ₹300 crores from the fourth year of operation.
- Annual lease rent: ₹4.29 crores for all four sites, adjustable based on WPI and CPI.
- Nature of the Contract: A domestic agreement with no related party involvement.
- Independence from Related Parties: Neither the promoter nor the promoter group of NESCO holds any interest in National Highways Logistics Management Limited, ensuring a transparent transaction.
This contract marks a significant milestone for NESCO, enhancing its presence in India’s infrastructure sector. With the increasing demand for high-quality wayside amenities on major highways, NESCO is strategically positioned to leverage this growth opportunity.
