Two giant road infrastructure players were chosen for the ambitious Rs 4215 Cr six-laning project of two stretches of National Corridor NH 19 (erstwhile NH 2) – the Ahmedabad based Adani Group and Mumbai based IRB Infrastructure finally, have kicked off mobilisation of manpower and machinery resources and according to the senior officials, “have already started basic works currently between Bud Bud and Galsi stretch of the highway in Burdwan
(East).”

The mega 131km venture is being executed in two parts from Panagarh in Burdwan (West) to Palsit in Burdwan (East) and from Palsit to Dankuni in Hooghly under the Bharatmala Pariyojna of the Centre. The National Highway Authority of India (NHAI) had invited bids for the projects on 22 December 2020.

The projects received bids from four companies and the NHAI recently has declared a Letter of Agreement (LoA). The Adani Group, according to the sources, has offered an 11.5 per cent premium of the capital cost of the Panagarh – Palsit stretch. The IRB Infrastructure has offered to pay the highest 10.8 per cent premium for the Palsit to Dankuni stretch.

The NHAI, in the early part of 2020 had attempted to bid the two stretches under the BoT (Build-Operate & Transfer) mode but had annulled the plan expecting more players in the field. Finally, a revised, investor-friendly BoT bid was opened on 5 February 2021 but the works couldn’t roll further due to the last model code of conduct for the last Bengal Assembly Elections.

The Centre recently revised the Model Concession Agreement (MCA) for BoT projects, under which the revenue potential of a project would be reassessed every 5 years during the concession period as against every 10 years now emphasising the certainty of cash flows.

Swapan Mallik, Project Director, NHAI told The Statesman: “Both the companies have started partial mobilization of their resources recently.” He added: “Currently, they are undergoing some basic works like – road stretch survey, soil testing, traffic counting, topography survey.”

He added: “Survey by flying drones is a key part of their basic work now, which they have started. The entire work is currently in the development period.”