The Lebad-Jaora Project involves widening part of State Highway No.31. from the existing two lanes to four lanes in order to reduce current congestion and provide scope for further traffic growth.

The concession for the Lebad-Jaora Project is for a period of 25 years, commencing from 11 April 2008.

The contract for the implementation of the Lebad-Jaora Project was awarded to WMPITRL, a consortium of companies belonging to the Essel Group, to construct, operate and maintain State Highway No. 31 constituting part of the Lebad-Jaora Project.

It is estimated that annual growth of road traffic will be 12–15 per cent. until 2012 for passenger traffic and 15–18 per cent. for freight traffic.

As of July 2008 construction of the Lebad-Jaora Project was approximately 10 per cent. complete and, as per the terms of the concession agreement related to the Lebad-Jaora Project, construction is to be completed by April 2010.

The Government has recognised that the development of the roads is essential to sustain India’s economic growth.

The Lebad-Jaora Project supported by debt funding from Axis Bank, Canara Bank, Central Bank of India, Corporation Bank, Infrastructure India Finance Company Limited and Punjab National Bank.

Transportation represent core sectors for Infrastructure India and the Acquisition is consistent with the Company's stated objective of securing projects that are expected to commence planned commercial operations within 18 months of the Company's investment.

The Lebad-Jaora Project is located in the Indian state of Madhya Pradesh and the project corridor traverses through the towns of Sadalpur, Nagda, Badnawar, Satrunda and Ratlan.

Based on the MPRDC bid document, the existing road carries approximately 5,000-20,000 vehicles a day, of which about 40 per cent. are commercial vehicles.

The Company's partner the toll road is a subsidiary of the Essel Group, a leading Indian entity with group turnover of approximately US$ 2.1 billion in 2007 and activities spanning infrastructure, media, packaging, entertainment, technology and education.