Wednesday, February 27, 2013

Study of Contractual Documents Involved In Yamuna Expressway Project

Study of Contractual Documents Involved In Yamuna Expressway Project
Jaypee Infratech Limited ("JIL"/"the Company"/"Concessionaire") is a Special Purpose Vehicle (SPV) promoted by Jaiprakash Associates Ltd., the flagship company of Jaypee group to construct the 6-lane access controlled expressway (extendable upto 8-lane) from Noida to Agra in the state of Uttar Pradesh ("Yamuna Expressway"/"Expressway"). Yamuna Expressway Industrial Development Authority (YEA), the nodal agency set up by Government of UP to plan and construct the proposed expressway connecting the city of Agra with Noida, has also granted the Concessionaire the rights to develop 25 million sq. metres of land along the proposed Expressway for commercial, amusement, industrial, institutional and residential development. YEA followed international competitive bidding process for the selection of Concessionaire for the expressway project on the lowest concession period of 36 years from the date of COD quoted by Jaypee Group, the project was awarded to them in January 2003.
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