NESCO Ltd Surrenders Two Sites for Wayside Amenities Development on Bengaluru Chennai Expressway Corridor Due to Feasibility Challenges

NESCO Ltd has surrendered two sites for the development of Wayside Amenities at 3 sites in South Zone on Bengaluru Chennai Expressway Corridor (Phase Il) Section on Lease Basis. The decision comes after joint inspections and discussions with vendors revealed significant feasibility and viability challenges at the two sites. The total cost for development of Wayside Amenities at the remaining site is estimated at ~ Rs. 75 crores, with an estimated annualised revenue of ~ Rs. 115 crores from year 4 of operations. The annual lease rent for the site is Rs. 5.53 crores with fixed annual revision basis increase in WPI and CPI. There are no financial implications imposed by NHLML due to this surrender.