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| Exchange Disseminated Time | Sadbhav Engineering Ltd has informed BSE that on completion of all the formalities in relation to the appointed date as required under the Concession Agreement dated March 20, 2014 between MBHPL and the Client, December 12, 2014 has been declared by the Client as the appointed date for the project “Design, Build, Finance, Operate, Maintain & Transfer (“DBFOMT”) of existing state highway (SH-3 & SH 33) from Malavalli to Pavagada (approx length of 193.344 Kms) in the State of Karnataka on DBFOMT annuity basis” to be executed by the Company's subsidiary & SPV, MBHPL.
Concession period for the project is 10 years from the appointed date including construction period of 30 months. MBHPL shall receive lumpsum payments of Rs. 239.209 crores during construction period and semi-annual annuity of Rs. 71.15 crores post achievement of COD till the end of concession period. |
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