Makes its toll-booth operational on NH-3
Ircon Soma Tollway Pvt Ltd (ISTPL), a 50:50 Joint venture between Ircon International and Soma Enterprises, has finally started commercial operation by making its toll-booth on NH-3, near Chandvad (in Nashik district), operational.
The company is eyeing revenue of Rs. 30 crore in the last five month of the current FY 2009-10 and Rs. 75 crore in the next FY 2010-11.
The company had bagged the 118 kms four-lane project from Pimpalgaon to Dhule on NH-3 on BOT (Build, Operate & Transfer) basis. NHAI had signed the concession agreement with ISTPL to develop the 118-km stretch on BOT basis. Duration of the concession agreement is for 20 years, including construction period of three years.
“Out of 118-km stretch, four-lane work of 100 kms has been completed and is open for traffic. The rest of the work (18 kms) will be completed by December 2009. Total project cost is estimated at around Rs. 650 crore. We have made toll-booth operational near Chandvad (in Nashik district). We are expecting the revenue of Rs. 30 crore through toll collection during the last five months of the current FY 2009-10. We are eyeing revenue of Rs. 75 crore in the next FY 2010-11,” Mohan Tiwari, chairman, ISTPL, told Business Standard.