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Company:
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Tamil Nadu Road Development Company
Ltd (TNRDC) is a 50: 50 joint venture between TIDCO and
Infrastructure Leasing & Financial Services Ltd
(IL&FS). Tamil Nadu was the first State in the country
to setup a genuine public
- private partnership venture for infrastructure
development in the year 1998. TNRDC was set up with the
objective to catalyze private sector participation and
investment in road sector and mandated to initiate
commercialization of operations and maintenance of road
assets. |
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2
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Shareholding Pattern
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The authorized
share capital of the
Company is Rs 15 crores. The share capital contribution
for the ECR Project is Rs 10 crores and is shared as follow:
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TIDCO : Rs 5 crores (50%)
IL&FS : Rs 5 crores (50%)
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The State Government
sanctioned TIDCO's equity
participation in September 2001, and disbursed the same
(in last week of January 2002)out of the proceeds of
TIDCO's Bonds.
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Management:
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TNRDC's Board of Directors comprises
the following members:
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IL&FS Nominees
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Mr. Ravi Parthasarathy: Vice chairman
& Managing Director, IL & FS
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Mr. Hari Sankaran : Executive
Director, IL&FS
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Mr. K. Ramchand : President &
CEO, Consolidated Toll Network Ltd.
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GoTN / TIDCO Nominees
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Mr. A. Nagarajan, IAS : Secretary,
Highways Department, GoTN
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Mr. Madhavan Nambiar, IAS : Chairman
& Managing Director, TIDCO
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Independent Directors
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Mr. N.R. Krishnan, IAS (Retd) : Ex-
Secretary, Ministry of Environment & Forest, GOI
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Mr. Rohit Modi (Formerly an IAS
Officer, dealing with World Bank / ADB, IMF assistance in
the Department of Economic Affairs, Ministry of Finance,
Government of India) is the Chief Executive Officer of the
company, since May 1999.
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East Coast Road Project:
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As its first venture, TNRDC
has taken up the improvement and maintenance of the East
Coast Road connecting Chennai and Pondicherry via
Mahabalipuram, at a cost of Rs 60 crores. It is the
largest single (113 Km) toll road in the country today. The project has
been substantially completed ahead of schedule ( on December
6, 2001 ) and within budgeted cost.
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Public Private Partnership:
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TNRDC has been actively assisting the
State Government in:
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Developing Chief Minister's Highways
Development Program for comprehensive improvement and
maintenance of all roads (managed by the Highways
Department) and to catalyze over all economic development
in the State.
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Evolving a detailed strategy for
setting up the Tamil Nadu Road Fund.
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Setting up Integrated Check Post at
the State Borders.
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Establishment of
Construction Equipment Pool in the State, for improving the quality of
roads construction.
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Improving road connectivity between
Chennai and Ennore Ports by improving the Ennore
Expressway. The company is working in close conjunction
with the National Highways Authority of India (NHAI) for
four laning the Ennore Expressway and improvements to TTP
road at a total project cost of about Rs 150 crore. TNRDC is also
involved in the sea protection works ( in order to contain
sea erosion) and resettlement and rehabilitation of
over 1500 project affected families as part of this
project: and
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Formulating
Road Safety Action Plan
for the State, in order to minimize accidents and
establish highway accidents related emergency and trauma
care. The strategy and practices on ECR are being used as
a reference points.
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OTHER INITIATIVES
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TNRDC has been working with
State Government and Ministry of Road Transport &
Highways, Government of India for taking up the
development, improvement and maintenance of select
National Highways stretches in Tamil Nadu on ECR format.
Initially, TNRDC has proposed to develop, improve and
maintain the Salem - Ulundurpet Roads (NH 68, 134 km ) and
Dindigul - Palani stretch of NH 209 (54 KM) on a
commercial format.
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TNRDC has also proposed to under take
the improvement and maintenance of Thoppur - Mettur -
Bhavani State Highways, on ECR framework, with
limited capital support from the Government of Tamil Nadu.
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NHAI has proposed to appoint TNRDC as its Managing
Partners / Associates for undertaking the operating and
maintenance of Chennai Bye-pass
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