NHAI approves highway linking Electronics City

NHAI approves highway linking Electronics City

The Hindu

Bid by Hyderabad-based consortium okayed

# 15-km-long highway estimated to cost Rs. 450 crores
# NHAI board approved bid on October 10
# Consortium to pay an upfront grant of Rs. 16 crores to NHAI

BANGALORE: The Board of National Highways Authority of India (NHAI) has cleared the proposal submitted by a Hyderabad-based consortium for building a 14-lane highway connecting Electronics City and Silk Board Junction in Bangalore, a senior NHAI official has said.

"The Board of NHAI, which met in Delhi on October 10, approved the techno-commercial bid submitted by a joint venture between Soma Enterprises-Nagarjuna Construction Company and Maytas (a group company of Satyam Computers) to develop a 15-km-long highway from Hosur Road leading to Electronics City at an estimated cost of Rs. 450 crores on a Build, Operate and Transfer (BOT) basis under the direct tolling method," the official said.

NHAI will now issue a Letter of Acceptance (LoA) to the successful bidder stating that it is accepting the unconditional bid submitted by them. "Within four weeks of issuing the LoA, the concession agreement for the project will have to be signed by the NHAI and the private operator," the official said.

The Soma-Nagarjuna-Maytas combine has offered to pay an upfront grant of Rs. 16 crores to the NHAI for rights to build the highway facility.

Once operational, the new highway will ease traffic congestion and drastically cut travel time from Silk Board Junction to Electronics City.

The Soma-Nagarjuna-Maytas combine will have to build the 14-lane highway within 30 months (including a six-month period for achieving financial closure) of signing the contract.

Apart from the four-lane elevated highway spanning a length of nine km, there will be a six-km-long main carriageway on the ground level which comprise three lanes on either sides and a service road involving two lanes on either sides, taking the total number of lanes to 14.

The private operator will recover his investments by collecting toll from the users during a concession period spanning 15 years. The toll rates would be different for the elevated highway and the ground level carriageway where traffic levels are expected to touch 1,10,000 passenger car units per day.