The National Highways Authority of India (NHAI) has signed a concession agreement for four-laning the Ambala-Chandigarh section of national highway (NH) 21 and 22.
The agreement was signed by NHAI with GMR Ambala Chandigarh Expressway Pvt Ltd, earlier this week.
The agreement involves the highest negative grant so far received by NHAI under NHDP-phase III A, i.e. the concessionaire GMR Ambala Chandigarh Expressway Pvt Ltd, would pay NHAI a grant of Rs 105.858 crores (net present value discounted @ 10%), during a concession period of 20 years.
The four-laning of the 35 km long, high-traffic density corridor of Ambala-Chandigarh section (km 5.735 to km 39.960 km on NH-22 and 0 km to 0.871 km on NH 21) on BOT basis, is expected to be completed in 30 months at a cost of Rs 298 crore.
Currently, the Ambala-Chandigarh section is two-lane and on completion, this stretch would be four-laned with paved shoulders. In addition, it would have nearly 21 km of service roads on either side. Under NHDP-Phase III A, 15 projects involving an investment of Rs 4,520 crore covering a length of 929 km have been awarded so far.
ONE FOR THE ROAD
Agreement involves the highest negative grant so far received by NHAI
More from Economy