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(Thanks to Devasis Sarangi for the pointers.)

Following are excerpts from a report in Economic Times.

Sunil Agarwal , President & CEO, ARSS Infra in an interview with ET Now talks about the bus terminal development project bagged by the company.

This order its after a long time that I am seeing somebody bag an order of this nature bus terminals. What is the deal, how much is the annual expenditure for this development and what you will get in return?

Yes, this is a deal for developing of bus terminal in Bhubaneswar, Odisha which is a capital of Odisha. We will be developing bus terminal for Odisha Bus Bhubaneswar. This is located in Bermuda. We have paid 56 crore premium to the government of Odisha and we have signed the concession agreement yesterday.

The total project cost of the terminal will be around 1300 crore out of which we will be developing half of the terminal as bus terminal and the basic infrastructure for bus terminal will be also used for the commercial facility which also will be developed by Government of Odisha.

Any income will not come in this year, the income will generate from after 2 year when the bus terminal will be completed. We have to develop the bus terminal in 2 years and we have to operate and maintain it for 50 more years. As far as expenditure is concerned this year we will be spending around 200 to 250 crore and coming forward this total expenditure will be completed in another 5 years.

…

And when will revenues start to kick in from the same projects and what are the kind of margins that you are expecting?

See the overall margins for operating and lease rental and as well as from the commercial development we will be generating around 500 crore of margin in the period of 4 to 5 years and this margin will start generating from 2013 after development of the bus terminal in 2 years. And the basic facilities and infrastructure that we will be developing for the bus terminal the same will be used for commercial developments also.

If you start getting revenues after 2 years, what is the annuity that you expect from this project?

The annuity will be somewhere around 8200 crore a year.

For how many years would this be?

This one will continue for 15 years. …

If all these numbers are right this would be a wonderful facilty. Moreover, it will demonstrate the feasibility of other similar sized or bigger PPP projects, especially Railway Station (IR plans a world class station built on PPP mode), Airport, Metro/Light-rail.

To get a bit of background, we give the following from a slightly older report in Pioneer.

After long, the process has begun for developing three bus stands with modern facilities in the State. The bus stands to be developed in public-private partnership (PPP) mode include Baramunda Bus Stand of Bhubaneswar, Badambadi main Bus Stand of Cuttack and the Dhenkanal Bus Stand.

A decision to this effect was taken in a meeting held under chairmanship of Chief Secretary Bijay Kumar Patnaik at the State Secretariat on Wednesday.

After the meeting, the Chief Secretary said to the reporters that while ARSS Infrastructure Project Limited has been given responsibility to develop two bus stands of Bhubaneswar, Cuttack, another company PK Behera Construction Private Limited will develop Dhenkanal Bus Stand.

The Development works would be complete by December, 2012. “An MoU has already been signed with the two companies and concessional agreements would be signed soon,” Patnaik informed, adding that the construction work would begin in two months time and the projects would be complete in two years.

Regarding conditions of MoU with the companies, Patanik said the two companies have been asked to use 60 per cent of each of bus stands for bus terminal and 40 per cent as market complex. The lands would be given on lease basis and the company would hand over the terminal areas to the Government after completion of 15 years and market complex area after 90 years, he informed.

The companies would be given 14 acres of land for Baramunda Bus Stand, 4.6 acres of land for Badambadi Bus Stand and 5 acres of land for Dhenkanal Bus Stand. ARSS would give concessional fee of Rs 56 crore and 17.21 crore for Baramunda and Badambadi respectively and PK Behera Construction Private Limited would give 1.26 crore for Dhenkanal Bus Stand.

Following is from Samaja.

Following ad is from Orissa Business Blog.

Following is  from a report in New Indian Express.

The State Government will lease out unused land of Orissa State Road Transport Corporation (OSRTC) at Cuttack, Baripada and here to the Reliance Industries Limited (RIL) for commercial purpose.

The OSRTC has prime land at Master Canteen, Pala Mandap in Cuttack and Baripada town. The corporation will lease out the Master Canteen land to RIL for 33 years for Rs 20 crore. Reliance has proposed to open retail outlets and has agreed to pay a monthly rental of Rs 15 lakh.

The company has reportedly deposited Rs 6 crore with the Government for the OSRTC land at Baripada town. However, OSRTC will collect monthly rent from RIL for all the leased out plots. Rent will be revised every five years.

The proceeds from leased out land will be invested for procurement of more buses and modernisation of the Government bus stands.

In the first phase, five bus stands at Angul, Bhubaneswar, Cuttack, Dhenkanal and Sambalpur will be modernised under the public-private partnership.

While the bus stands of Bhubaneswar, Cuttack and Sambalpur will be renovated, two new bus stands will be developed at Angul and Dhenkanal.

The public utility has 230 on road buses and plans are afoot to add another 50 to its fleet. The corporation has submitted a proposal to the Government for pay revision of the employees, official sources said.

Following is an excerpt on this from the Pioneer.

The Jagannath Temple administration would develop a new state-of-the-art passenger bus terminal at an estimated cost of over Rs 100 crore on 42 acre of its own land located near the Samagara village on the outskirts of the town, said SC Mahapatra, the temple’s chief administrator at a Press meet on Thursday. Within six months the temporary bus stand operating at Talabania would be shifted to the new place. Primary infrastructure like fencing, provisions of basic amenities and security arrangements would be put on place before the scheduled shifting, Mahapatra said. A pilgrim shelter for 500 pilgrims would be constructed in the complex equipped with eateries and shopping centres. Two crore would be spent now for the purpose, said Mahapatra. Besides Rs 35 crore would be spent for the development of the existing parking place functioning at Jagannath Ballav alongside the Badadanda (Grand Road). NTPC would bear the cost of the development, he said. Among other things the temple plans to include resumption of temple kitchen and Ananda Bazaar (Mahaprasad selling and dinning place in the temple complex) reconstruction work after the Kartik Brata and installation of a donation collection box at the premises of Jaydev Bhavan in Bhubaneswar.