Rajahmundry Expressway Private Limited (REL) operates 53 km stretch between Rajahmundry and Dharmavaram on National Highway 16 (erstwhile NH 5), in the state of Andhra Pradesh, under Build Operate Transfer (BOT) Annuity mode.

The project stretch is a 17.5-year annuity project awarded after competitive bidding in 2001-02 for up gradation of existing 2-lane highway to a 4-lane configuration. REL yields fixed semi-annual payments from National Highway Authority of India (NHAI) with no exposure to the risk of volatility in traffic volume.

The project, built at a total cost of close to INR 223 crore, commenced operations in September 2004 and has an established operational history of more than 10 years. The project stretch remains an important route providing connectivity between Kolkata and Chennai, which form a part of the Golden Quadrilateral road network.