Indo-Spanish consortium wins Jaipur road project
AFII Corporate Advisors Ltd., a boutique investment bank focussed on advising Indian & Foreign Infrastructure Companies on mega projects, has announced that its client has successfully signed the Concession Agreement with the Jaipur Development Authority (JDA) for the 47-km long Jaipur Ring Road project.
According to a spokesman of AFII, the Concessionaire – Sanjose Supreme Tollways Development Private Limited, a JV between Mumbai based infrastructure company, Supreme Infrastructure India Limited, and Spanish infrastructure bigwig Constructora San Jose, S.A., recently signed the agreement at the JDA office in Jaipur. The concession period for the project is 28 years, including a 3 year construction period. The estimated cost of the project is Rs11 billion.
AFII is advising Constructora San Jose, S.A. on the project, while its integrated law firm, AFII Legal has been responsible for various agreements between the JV partners leading to the successful conclusion of the Concession Agreement with JDA. Constructora San Jose, S.A. is the lead member in the project holding a majority equity stake in the SPV. The financial closure for the project, as confirmed to AFII by their client, is expected to be achieved in 30 days.