Incorporation of BOT Highways Project Development SPV With Valecha Engineering Ltd

Artefact Infrastructure Ltd entered into a BOT Project Development SPV in consortium with Valecha Engineering Ltd. The project SPV, “Valecha Badwani Sendhwa Toll Ways Ltd”, will undertake BOT (Toll + Annuity) Project in Madhya Pradesh. Artefact Infrastructure Ltd. entered into a MOU and subsequently a Shareholders Agreement for the same. AIL is holding 26% equity stake in the SPV.

The 57 Km project stretch Badwani – Palsud – Sendhwa is situated on State Highway – 39, which is an important link between NH 3 (Indore – Dhule) and NH 8 (Vadodra – Mumbai). The EPC Cost is about Rs. 86.73 Crores and project duration is 15 years.

Being a Toll plus Annuity based project model, the SPV shall apart form Toll revenue, get annuity of Rs. 4.97 Crores. Artefact infrastructure Ltd and Artefact Projects Ltd, as per the MOU and Shareholders Agreement, shall undertake partial EPC construction and services in next 15 years of the project execution. The approximate amounts of these are Rs. 25.45 Crores for EPC construction and Rs. 34.31 Crores for services.

         Inauguration of Trivandrum International Airport

12th February, 2011 brought a major milestone of achievement for Artefact Projects Ltd. Honb’le Prime Minister of India Dr. Manmohan Singh inaugurated the new Trivandrum International Airport. Artefact in collaboration with Rajiv and Moni Choudhary Architects, WS Atkins, AJM – Planning and Urban Design Group Sdn. Bhd., Malaysia have successfully provided for the Airport Concept, Design, Engineering, Project Management and Consultancy Services since its inception in 2005, upto commissioning. The services included concept designs, architectural planning, interior design, structural designs, HAVC, mechanical and electrical facilities, security systems, communications, STP, ETP, electric sub-station, approach bridge and roadways, landscaping, environment management, cost and quality control and project supervision and management.