Welspun Enterprises and Apco Infratech have emerged as the successful bidders for the two projects on the Delhi-Meerut Expressway, which would be built through the hybrid annuity model in which the government would pay 40% of the project cost.
Road transport and highways ministry sources said Welspun quoted the lowest price for adding lanes along a 8.36-km stretch on the expressway offering to do the job for Rs 841.5 crore leaving Ashoka Concessionaires behind.
A joint venture between Apco Infratech and Chetak Enterprises emerged the winner for another 22.3-km project on the expressway quoting a bid of `1,057.6 crore more than what Ashoka
Concessions, Sadbhav Infrastructure and PNC Infratech had quoted.
The ministry of road transport and highways had invited bids for two of the three packages for the widening of the Delhi-Dasna-Meerut Expressway into six lanes. The widening of the road would decongest the stretch on which around 1,00,000 vehicles ply every day.
The hybrid annuity model allows the concessionaires to bear the balance 60% of the project cost through a combination of debt and equity.