Financial Daily from THE HINDU group of publications
Tuesday, Sep 28, 2004
Financial Daily from THE HINDU group of publications Tuesday, Sep 28, 2004 |
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Logistics
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Roadways Rs 2,544-cr worth road projects for Karnataka Our Bureau
The Union Minister for Shipping, Road Transport and Highways, Mr T.R. Baalu, flanked by the Minister of State, Mr K.H. Muniyappa, and the Karnataka Chief Minister, Mr Dharam Singh, at a meeting in Bangalore on Monday. — K. Gopinathan
Bangalore , Sept. 27 MAJOR issues relating to land acquisition for the Golden Quadrilateral and the North-South corridor highway projects in Karnataka have been resolved. Speaking to reporters here today, the Union Minister for Road Transport, Highways and Shipping, Mr T.R. Baalu, said the completion of the projects would be on schedule. So far, of the 755 km stretch identified for widening into four lanes as part of the Golden Quadrilateral or the North-South corridor, about 277 km had already been completed. It was work on the 380 km that was under implementation. Work on another 98 km had not been awarded due to land acquisition problems. These would also be awarded, he added. In addition, the Minister also announced a slew of new projects involving an investment of Rs 2,544 crore. These projects included widening of some stretches to four and six lanes. Among the projects being taken up included the Kundapur-Suratkal on NH 17, the Hassan-Nilamangalore on NH 13, Krishnarajapuram-Kolar on NH 4 and the Bangalore-Hosur on NH 4. He said pre-feasibility studies would begin soon. The detailed project reports for the widening of the highways would be ready by the end of this fiscal. "If everything is okay, work on the projects will begin on April 2 next year," Mr Baalu said. In addition, he said the National Highways Authority of India (NHAI) would also begin work on an elevated 9 km expressway linking Bangalore to the Electronic City. This project was intended to address some of the specific requirements of the information technology sector. Some of the IT companies located in the Electronic City, including Wipro and Infosys Ltd has agreed to participate in the funding, he added. Accordingly, he said, a special purpose vehicle for project implementation Rs 400 crore would be formed. The IT sector, which is expected to be the biggest beneficiaries of the project would participate in the project equity to the extent of 33.5 per cent. The remaining 66.5 per cent of the equity would be brought in equally by the NHAI and the Karnataka Government, he added. The project funding would be done through a 60:40 debt-equity ratio implying that the private participation would be to the extent of about Rs 54 crore. This project would be ready within two years after commencement of work, he added. Mr Baalu said that his Ministry was also proposing to include the 84 km stretch between Belgaum to the Goa border under the third phase of the National Highways Development project.
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