India’s Jetpur Somnath Tollways has signed a concession agreement to add four lanes to the Jetpur-Somnath section of the National Highway-8D in Gujarat.

The 30-year concession agreement was signed with the National Highway Authority of India (NHAI), and construction is expected to be complete in 30 months.

The design, build, finance, operate and transfer project was awarded by NHAI to the consortium consisting of Plus Expressway, Jetpur’s parent company, and its joint bidding partner, IDFC Projects.

Jetpur Somnath Tollways is a special purpose vehicle incorporated on 11 January 2011 to undertake the project, in which the PEB holds a 26% stake, with the remaining interests held by IDFC Projects and six other nominal subscribers.

Under the concession agreement, the company will design, engineer, construct and subsequently operate and maintain the project highway, and Jetpur Somnath will also demand and collect fees from the users upon the commercial operation date of the highways, according to