Nesco Limited informed that National Highways Logistics Management Limited has declared the Company as Highest Bidder and has accepted their proposal for Developing, Operating and Maintaining of Wayside Amenities on Raipur-Visakhapatnam Expressway on Lease Basis. The official correspondence on allotment of this tender was received by the Company on 14 January 2025. Name(s) of the entity awardingthe order [s) /Contract(s): National Highways Logistics Management Limited. Significant terms and conditions of order(s) contract(s) awarded in brief: Developing, Operating and Maintaining of Wayside Amenities on Raipur- Visakhapatnam Expressway (Bundle RV-1, 4 sites) on lease basis Whether order(s) /contract(s) have been awarded by domestic /international entity: Domestic. Nature of order(s) /contract(s): Developing, Operating and Maintaining of Wayside Amenities on lease basis. Whether domestic or international: Domestic. Period of Lease: 30 years (with first right of refusal for extending the lease agreement for another 30 years). Period of Development: to be completed within 10 months of Appointed Date. The total cost the Company has to incur for development of Wayside Amenities is estimated at~ INR 500 million for each of the 4 sites. The estimated annualised revenue from 4 sites is ~ INR 3000 million from year 4 of operations.
The annual lease rent is INR 33.4 million for 4 sites with fixed annual revision basis increase in WPI and CPI.