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Russian, Taiwan firms bag phase I of ORR
Our Bureau
Hyderabad
,
May 29
A Russian and a Taiwanese company have been chosen as developers for the ambitious first phase of the Rs 3,500-crore Outer Ring Road (ORR) project that would connect the high-density corridor from Gachibowli to Shamshabad.
The new international airport is coming up at Shamshabad and would be ready by 2008 March.
These two companies are learnt to have been chosen by a Committee headed by the Chief Secretary.
Of the 10 companies that took part in the bidding, the Russian Company - Corporation Transitory Open Joint Stock Company, and a Taiwanese firm - Continental Engineering Corporation, were chosen, for their lower bids.
The mandate is to develop a stretch of 24 km, in the phase one. While the Russian company project is valued at Rs 219 crore, the Taiwanese company would take up project worth Rs 250 crore.
The Government today formally finalised plans for the phase one of the ORR project, which aims to decongest the dense traffic zones around the city and thereby help create satellite townships along these corridors.
The Rs 3500-crore 162-km ORR project will be developed around the twin cities of Hyderabad and Secunderabd and pave the way for specialised developmental zones and satellite townships.
Once these developers submit the necessary bank guarantees, work is likely to commence by June 1.
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