L&T Sambalpur Rourkela Tollway Limited (L&T SRTL), a 100% owned SPV of L&T IDPL has signed the concession agreement with the Government of Odisha for four-laning the Sambalpur-Rourkela section of of SH-10 in the State of Odisha.
The road project issued by the Odisha Works Department, will be built under the Public-Private-Partnership model. L&T IDPL had bid for a grant of `465.30 crores which works out to 36% of the Authority Project Cost. The stretch extends for 163 km and has been offered for a concession period of 22 years, including the construction period of three years.
This will be L&T IDPL’s first road project in Odisha to be executed on a build-operate-transfer basis.
Major companies located in the vicinity of the road are Rourkela Steel Plant, L&T Kansbahal Works, UltraTech Cement, Vedanta Aluminum, Bhushan Power and Steel and large areas of coal mines of Coal India Limited.
Currently, the road has two lanes and has to be widened to four lanes along with other facilities such as flyovers, underpasses, bridges, bus bays, rest areas and service roads.
The project shall have state-of-art facilities such as advanced Highway Traffic Management Systems, Highway Patrolling Service and Accident Vehicle Recovery Service.
L&T SRTL shall be entitled to collect appropriate tolls after completion of construction, based on a pre-determined toll policy issued by Government of Odisha.