NESCO announced that National Highways Logistics Management has declared the Company as Highest Bidder and has accepted the proposal for Developing, Operating and Maintaining of Wayside Amenities
on Hyderabad Visakhapatnam Expressway in Khammam - Devarapalle Section on Lease Basis. The lease period for the project is 30 years with an option to extend the lease agreement for another 30 years.
Project details:
The total cost the Company has to incur for development of Wayside Amenities is estimated at
Rs. 50 crore for each of the 4 sites.
The estimated annualised revenue from 4 sites is
Rs. 300 crore from year 4 of operations.
The annual lease rent is Rs. 4.29 crore for 4 sites with fixed annual revision basis increase in WPI and CPI.