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    Pages From DCA TOT 3

    Uploaded by

    Ravi Shankar
    The document is a draft concession agreement for the tolling, operation, maintenance and transfer of highway projects in Andhra Pradesh and Gujarat. It grants the concessionaire exclusive rights for 30 years to collect tolls, operate and maintain the highways. The concession period may be reduced by 5 years or increased by 10 years depending on actual toll collections compared to targets. Toll collection targets are set for years 10 and 20 of the agreement, and the concession period will be adjusted based on whether actual collections are higher or lower than these targets. Traffic sampling methods are defined to determine actual toll amounts.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Pages From DCA TOT 3

    Uploaded by

    Ravi Shankar
    53 views4 pages
    The document is a draft concession agreement for the tolling, operation, maintenance and transfer of highway projects in Andhra Pradesh and Gujarat. It grants the concessionaire exclusive rights for 30 years to collect tolls, operate and maintain the highways. The concession period may be reduced by 5 years or increased by 10 years depending on actual toll collections compared to targets. Toll collection targets are set for years 10 and 20 of the agreement, and the concession period will be adjusted based on whether actual collections are higher or lower than these targets. Traffic sampling methods are defined to determine actual toll amounts.

    Original Description:

    Concession Agreement

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    © © All Rights Reserved

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    The document is a draft concession agreement for the tolling, operation, maintenance and transfer of highway projects in Andhra Pradesh and Gujarat. It grants the concessionaire exclusive rights for 30 years to collect tolls, operate and maintain the highways. The concession period may be reduced by 5 years or increased by 10 years depending on actual toll collections compared to targets. Toll collection targets are set for years 10 and 20 of the agreement, and the concession period will be adjusted based on whether actual collections are higher or lower than these targets. Traffic sampling methods are defined to determine actual toll amounts.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    53 views4 pages

    Pages From DCA TOT 3

    Uploaded by

    Ravi Shankar
    The document is a draft concession agreement for the tolling, operation, maintenance and transfer of highway projects in Andhra Pradesh and Gujarat. It grants the concessionaire exclusive rights for 30 years to collect tolls, operate and maintain the highways. The concession period may be reduced by 5 years or increased by 10 years depending on actual toll collections compared to targets. Toll collection targets are set for years 10 and 20 of the agreement, and the concession period will be adjusted based on whether actual collections are higher or lower than these targets. Traffic sampling methods are defined to determine actual toll amounts.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 4

    Draft Concession Agreement

    ARTICLE 3
    GRANT OF CONCESSION

    3.1 The Concession

    3.1.1 Subject to and in accordance with the provisions of this Agreement, the Applicable
    Laws and the Applicable Permits, the Authority hereby grants to the
    Concessionaire the concession set forth herein including the exclusive right,
    license and authority to demand, collect and appropriate Fee, operate, manage and
    maintain the Project Highway (the “Concession”) subject to and in accordance
    with terms hereof, for a period of 30 (thirty years) commencing from the
    Appointed Date (the “Concession Period”) and the Concessionaire hereby accepts
    the Concession and agrees to implement the Project subject to and in accordance
    with the terms and conditions set forth herein.

    Notwithstanding anything to the contrary in this Agreement, the Parties expressly


    agree that the Concession Period shall not be reduced by more than 5 (five) years,
    or shall not be increased by more than 10 (ten) years on any account or for any
    reason whatsoever.

    3.1.2 Subject to and in accordance with the provisions of this Agreement, the
    Concession hereby granted shall oblige or entitle (as the case may be) the
    Concessionaire to:

    (a) Right of Way, access and license to the Site for the purpose of and to the
    extent conferred by the provisions of this Agreement;

    (b) manage, operate and maintain the Project Highway and regulate the use
    thereof by third parties in accordance with terms hereof;

    (c) demand, collect and appropriate Fee from vehicles and Users liable for
    payment of Fee for using the Project Highway or any part thereof and
    refuse entry of any vehicle if the Fee due is not paid;

    (d) perform and fulfill all of the Concessionaire’s obligations under and in
    accordance with this Agreement;

    (e) bear and pay all costs, expenses and charges in connection with or
    incidental to the performance of the obligations of the Concessionaire
    under this Agreement; and

    (f) neither assign, transfer or sublet or create any lien or Encumbrance on this
    Agreement, or the Concession hereby granted or on the whole or any part
    of the Project Highway nor transfer, lease or part possession thereof, save
    and except as expressly permitted by this Agreement.

    Tolling, Operation, Maintenance & Transfer of Project Bundle comprising of Stretches in States of Andhra Pradesh and
    Gujarat. Page 19 of 138
    Draft Concession Agreement

    ARTICLE 24
    Effect of variation in Toll collection

    24.1 Variation in Toll collection


    The Authority and the Concessionaire acknowledge that the toll collections in the
    month of March 2029 (the “Target Point 1”) is estimated to be
    Length(km) Revenue (Rs.
    Stretch Crores)
    Siddhantham to Gundugolanu section (from km 950+542 to km 1022+494) 71.95
    98
    of NH5 in the State of Andhra Pradesh
    Diwancheruvu to Siddhantham section (from km 901+500 to km 950+542) 49.04
    104
    of NH5 in the State of Andhra Pradesh;
    Annavaram to Diwancheruvu section (from km 830+525 to km 901+500) 70.98
    200
    of NH5 in the State of Andhra Pradesh;
    Ankapalli to Annavaram (Tuni) section (from km 741+255 to km 88.53
    380
    830+525) of NH5 in the State of Andhra Pradesh;
    Icchapuram to Narasannapeta section (from km 484+000 to km 580+700) 96.70
    201
    of NH5 in the State of Andhra Pradesh;
    Puintola to Icchapuram section (from km 419+600 to km 484+000) of NH5 64.40
    165
    in the State of Odisha and Andhra Pradesh;
    Bamanbore to Garamore section (from km 182+600 to km 254+537) of 71.94
    166
    NH8A in the State of Gujarat;
    Garamore to Samakhiyali section (from km 254+537 to km 306+000) of 51.46
    377
    NH8A in the State of Gujarat
    Porbandar - Jetpur section (from km 001+960 to km 117+600) of NH8B in 115.64
    110
    the state of Gujarat

    Rs 1,801 cr (Rupees One Thousand Eighteen Hundred and One Crores) (the
    “Target Fee 1”) and the toll collections in the month of March 2039 (the “Target
    Point 2”) is estimated to be
    Length(km) Revenue (Rs.
    Stretch Crores)
    Siddhantham to Gundugolanu section (from km 950+542 to km 1022+494) 71.95
    251
    of NH5 in the State of Andhra Pradesh
    Diwancheruvu to Siddhantham section (from km 901+500 to km 950+542) 49.04
    265
    of NH5 in the State of Andhra Pradesh;
    Annavaram to Diwancheruvu section (from km 830+525 to km 901+500) 70.98
    680
    of NH5 in the State of Andhra Pradesh;
    Ankapalli to Annavaram (Tuni) section (from km 741+255 to km 88.53
    976
    830+525) of NH5 in the State of Andhra Pradesh;
    Icchapuram to Narasannapeta section (from km 484+000 to km 580+700) 96.70
    511
    of NH5 in the State of Andhra Pradesh;
    Puintola to Icchapuram section (from km 419+600 to km 484+000) of NH5 64.40
    422
    in the State of Odisha and Andhra Pradesh;
    Bamanbore to Garamore section (from km 182+600 to km 254+537) of 71.94
    315
    NH8A in the State of Gujarat;
    Garamore to Samakhiyali section (from km 254+537 to km 306+000) of 51.46
    941
    NH8A in the State of Gujarat
    Porbandar - Jetpur section (from km 001+960 to km 117+600) of NH8B in 115.64
    260
    the state of Gujarat

    Rs 4,620 cr (Rupees Four Thousand Six Hundred and Twenty Crores) (the
    “Target Fee 2”) and hereby agree that for determining the modifications to the
    Concession Period under this Clause, the monthly toll collection at Target Points 1
    or 2, as the case may be, shall be derived from the average of the toll collection as

    Tolling, Operation, Maintenance & Transfer of Project Bundle comprising of Stretches in States of Andhra Pradesh and
    Gujarat. Page 81 of 138
    Draft Concession Agreement

    determined using traffic sampling to be undertaken, in accordance with Clause 19,


    in the month that falls one year prior to the Target Points 1 or 2 as the case may be,
    during the month of the Target Points 1 or 2 as the case may be, and on the first
    anniversary of the Target Points 1 or 2 as the case may be (the “Actual Fee 1” and
    the "Actual Fee 2"). For the avoidance of doubt, it is agreed that traffic sampling
    shall be undertaken for a continuous period of at least 7 (seven) days during the
    month specified herein and the average thereof shall be deemed to be the actual
    traffic. It is further agreed that if the Project Highway shall have 2 (two) or more
    Toll Plazas, the average traffic thereof shall be computed for determining the
    actual traffic hereunder.
    24.2 Modification of Concession period due to variation in Target Fee 1
    Subject to the provisions of Clause 14, in the event that the Actual Fee 1 shall have
    fallen short of or exceeded the Target Fee 1 by more than 20% (twenty percent)
    thereof, the Concession Period shall be deemed to be modified in accordance with
    Clause 24.5.1. For the avoidance of doubt, in the event of any Dispute, the Dispute
    Resolution Procedure shall apply.
    24.3 Modification of Concession period due to variation in Target Fee 2
    Subject to the provisions of Clause 14, in the event that the Actual Fee 2 shall have
    fallen short of or exceeded the Target Fee 2 by more than 30% (thirty percent)
    thereof, the Concession Period shall be deemed to be modified in accordance with
    Clause 24.5.2. For the avoidance of doubt, in the event of any Dispute, the Dispute
    Resolution Procedure shall apply.
    24.4 Capacity Augmentation
    It is hereby acknowledged and agreed by and between the Concessionaire and the
    Authority that the Target Point(s) shall not be revised in the event the Authority
    undertakes Capacity Augmentation pursuant to Clause 14.

    24.5 Quantum of modification in the Concession Period


    24.5.1 Subject to the provisions of Clause 24.2 and Clause 3.1, in the event Actual Fee 1
    shall have fallen short of or exceeded the Target Fee 1 by more than 20% (twenty
    percent), then for every 1% (one percent) shortfall or increase as compared to the
    Target Fee 1, the Concession Period, subject to fulfillment of terms of this
    Agreement, shall be increased by 1.5% (one and a half percent) or decreased by
    0.75% (point seven five percent) thereof; provided that such increase or decrease in
    Concession Period shall not in any case exceed not more than limits specified in
    Clause 3.1. For the avoidance of doubt, and by way of illustration, it is agreed that
    in the event of a shortfall or increase by 30% (thirty percent) in Target Fee 1, the
    Concession Period shall be increased by 15% (fifteen percent) or decreased by
    7.5% (seven and a half percent) thereof.
    24.5.2 Subject to the provisions of Clause 24.3 and Clause 3.1, in the event Actual Fee 2
    shall have fallen short of or exceeded the Target Fee 2 by more than 30% (thirty
    percent), then for every 1% (one percent) shortfall or increase as compared to the
    Target Fee 2, the Concession Period, subject to fulfillment of terms of this
    Agreement, shall be increased by 1.5% (one and a half percent) or decreased by
    0.75% (point seven five percent) thereof; provided that such increase or decrease in

    Tolling, Operation, Maintenance & Transfer of Project Bundle comprising of Stretches in States of Andhra Pradesh and
    Gujarat. Page 82 of 138
    Draft Concession Agreement

    Concession Period shall not in any case exceed not more than limits specified in
    Clause 3.1. For the avoidance of doubt, and by way of illustration, it is agreed that
    in the event of a shortfall or increase by 40% (forty percent) in Target Fee 2, the
    Concession Period shall be increased by 15% (fifteen percent) or decreased by
    7.5% (seven and a half percent) thereof.

    24.5.3 Subject to the provisions of this Article 24 and clause 3.1, the effect of change in
    Concession Period due to Target Fee 1 and 2 be additive in nature.

    Tolling, Operation, Maintenance & Transfer of Project Bundle comprising of Stretches in States of Andhra Pradesh and
    Gujarat. Page 83 of 138

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