Govt approves the development of four laning of Cuttack-Angul road
Updated: Sep 22, 2015 04:13:24pm
New Delhi, Sept 22 (KNN) The Cabinet Committee on Economic Affairs (CCEA), chaired by the Prime Minister Narendra Modi, has approved the development of four laning of 'Cuttack-Angul' section of National Highway - 42 in Odisha under the National Highways Development Project (NHDP) Phase III in BOT (Toll) mode on design, build, finance, operate and transfer (BOT/DBFOT) basis.
The total cost of the project which was approved by Public Private Partnership Approval Committee (PPPAC) will be Rs 1575.38 crore.
The main object of the project is to expedite the improvement of infrastructure in Odisha and also in reducing the time and cost of travel for traffic, particularly heavy traffic, plying between 'Cuttack-Angul' section of NH-42 in the state.
Development of this stretch will also help uplift the socio-economic condition of this region of the state. It will also increase employment potential for local labourers for project activities.
In this regards, the government is inviting bids from eligible firms on the basis of provisions of the Model Concession Agreement subject to such changes as accepted by the PPPAC.
PPPAC had earlier in its 46th meeting held in September, 2011 granted approval for four laning of 112 Km long 'Cuttack-Angul' section and approved by the erstwhile CCI in its meeting held in November, 2011.
The project was awarded at premium of Rs 61.09 crore to Ashoka Buildcon Ltd and the Concession Agreement was signed in March, 2012.
However, due to non-fulfilment of condition precedents by the NHAI as per the provisions of the concession agreement, procurement of 80 percent of land and environment/forest clearance within 180 days of signing of the Concession Agreement was terminated on mutual consent.
PPPAC in its 72nd meeting held in April, 2015 has again accorded approval for the project. (KNN Bureau)
The total cost of the project which was approved by Public Private Partnership Approval Committee (PPPAC) will be Rs 1575.38 crore.
The main object of the project is to expedite the improvement of infrastructure in Odisha and also in reducing the time and cost of travel for traffic, particularly heavy traffic, plying between 'Cuttack-Angul' section of NH-42 in the state.
Development of this stretch will also help uplift the socio-economic condition of this region of the state. It will also increase employment potential for local labourers for project activities.
In this regards, the government is inviting bids from eligible firms on the basis of provisions of the Model Concession Agreement subject to such changes as accepted by the PPPAC.
PPPAC had earlier in its 46th meeting held in September, 2011 granted approval for four laning of 112 Km long 'Cuttack-Angul' section and approved by the erstwhile CCI in its meeting held in November, 2011.
The project was awarded at premium of Rs 61.09 crore to Ashoka Buildcon Ltd and the Concession Agreement was signed in March, 2012.
However, due to non-fulfilment of condition precedents by the NHAI as per the provisions of the concession agreement, procurement of 80 percent of land and environment/forest clearance within 180 days of signing of the Concession Agreement was terminated on mutual consent.
PPPAC in its 72nd meeting held in April, 2015 has again accorded approval for the project. (KNN Bureau)
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