The Company has been adjudged as the highest bidder for Developing, Operating and Maintaining of Wayside Amenities in South Zone on Bengaluru Chennai Expressway Corridor (Phase II) Section on lease basis.
- The contract is awarded by National Highways Logistics Management Limited – a 100% owned SPV of National NHAI, Under Ministry of Road Transport and Highways.
- The contract comprises of 3 sites
- Nesco has to incur ~ Rs. 75 crores for each of the 3 sites for development of the Wayside Amenities
- The estimated annualised revenue from 3 sites is estimated at ~ Rs. 350 crores from year 4 of the operations.
- The annual lease rent is Rs. 16.60 crores for 3Â sites with fixed annual revision basis increase in WPI and CPI.
- Period of lease is 30 years
This seems to be a totally new vertical for Nesco and an interesting one.
With improving highways and increasing tourism, opportunity seems big.
Nesco has the resources and the business prudence to significantly capitalise on this opportunity.