Obligations as per Contract 1.2.2 Project Mile stone in Schedule-G of Concession Agreement Project Conditions/ stipulations in Schedule G of the Present status Milestone Concession Agreement Milestone Project Milestone-I shall occur on the date This Milestone was achieved. I falling on the 180th day from the Appointed Approval regarding achievement is yet Date. (Scheduled Date was September 27, awaited from NHAI. 2014) to the occurrence of Project Milestone-I, the Concessionaire shall have commenced construction of the Project Highway and expended not less than 10% of the total capital cost set forth in the financial package. Milestone Project Milestone- II shall occur on the date This Milestone was achieved. II falling on the 365th day from the Appointed Recommendation regarding achievement Date. (Scheduled Date was March 31, 2015) of Milestone-II is submitted by IE to Prior to the occurrence of Project Milestone, NHAI. the Concessionaire shall have commenced Approval from NHAI is awaited. construction of all bridges and expended not less than 25% of the total capital cost set forth in the financial package. Milestone Project Milestone- III shall occur on the date Recommendation regarding extension of Project Milestone-III for 15 months up to III falling on the 730th day from the Appointed June 2017 submitted by IE to NHAI. Date. (Scheduled Date is March 30, 2016) Approval of EOT from NHAI is awaited. Prior to the occurrence of Project Milestone- III, the Concessionaire shall have commenced construction of all Project Facilities and expended not less than 75% of the total capital cost set forth in the Financial Package. Scheduled Shall Occur On September 26, 2016 (910th IE had recommended the revised Six-Laning day from Appointed Date) Schedule Completion date as December Date 27, 2017. Approval from NHAI is awaited.
1.2.2 Obligations as per Contract Project Mile stone in Schedule-G of Concession Agreement Project Milestone Conditions/ stipulations in Schedule G of the Concession Agreement Present status Milestone I Project Milestone-I shall occur on the date falling on the 180th day from the Appointed Date. (Scheduled Date was September 27, 2014) to the occurrence of Project Milestone-I, the Concessionaire shall have commenced construction of the Project Highway and expended not less than 10% of the total capital cost set forth in the financial package. This Milestone was achieved. Approval regarding achievement is yet awaited from NHAI. Milestone II Project Milestone- II shall occur on the date falling on the 365th day from the Appointed Date. (Scheduled Date was March 31, 2015) Prior to the occurrence of Project Milestone, the Concessionaire shall have commenced construction of all bridges and expended not less than 25% of the total capital cost set forth in the financial package. This Milestone was achieved. Recommendation regarding achievement of Milestone-II is submitted by IE to NHAI. Approval from NHAI is awaited. Milestone III Project Milestone- III shall occur on the date falling on the 730th day from the Appointed Date. (Scheduled Date is March 30, 2016) Prior to the occurrence of Project Milestone- III, the Concessionaire shall have commenced construction of all Project Facilities and expended not less than 75% of the total capital cost set forth in the Financial Package. Recommendation regarding extension of Project Milestone-III for 15 months up to June 2017 submitted by IE to NHAI. Approval of EOT from NHAI is awaited. Scheduled Six-Laning Date Shall Occur On September 26, 2016 (910th day from Appointed Date) IE had recommended the revised Schedule Completion date as December 27, 2017. Approval from NHAI is awaited.