NESCO wins ₹200-crore contract for developing wayside amenities on Hyderabad-Vizag Expressway – CNBC TV18

Diversified firm NESCO Ltd on Thursday (December 12) said it has been declared the highest bidder by National Highways Logistics Management Ltd (NHML) for the development, operation, and maintenance of wayside amenities along the Hyderabad-Vishakhapatnam Expressway in the Khammam-Devarapalle section.

“…we are pleased to inform you that National Highways Logistics Management Limited has declared the company as the Highest Bidder and has accepted our proposal for Developing, Operating and Maintaining Wayside Amenities

on the Hyderabad Visakhapatnam Expressway in Khammam – Devarapalle Section on a lease basis. The official allotment notice was received by the company on December 11, 2024,” NESCO said in a regulatory filing.

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Under the terms of the agreement, NESCO Ltd will develop, operate, and maintain wayside amenities across four sites on a lease basis for a period of 30 years, with the option to extend for an additional 30 years through a first right of refusal. The development work is expected to be completed within 10 months from the appointed date.

The total cost of developing the amenities is estimated at approximately ₹50 crore for each of the four sites, totalling an investment of ₹200 crore. From the fourth year of operations, NESCO expects an annualised revenue of around ₹300 crore from these four sites.

Additionally, the annual lease rent for the project is ₹4.29 crore for all four sites, with rent revisions based on the Wholesale Price Index (WPI) and Consumer Price Index (CPI). Shares of NESCO Ltd ended at ₹1,017, down by ₹10.55, or 1.03%, on the BSE.

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