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Our Bureau

New Delhi, Sept. 1 National Highways Authority of India (NHAI) has signed an agreement with Jaiprakash & Associates for widening a 28.69 kilometre highway spread across Punjab, Haryana and Himachal Pradesh.

The concession period for this project is 20 years including construction period of 30 months. The total project cost is Rs 295 crore.

Thus, the private road builder can operate the road stretch and collect toll for over 17 years provided the road construction gets over on time.

The work has been awarded with viability gap funding (VGF) of Rs 117 crore. VGF is the Government subsidy element that would be extended to make this project economically viable.

In a statement issued here today, NHAI stated that it has signed the concession agreement for four laning of Zirakpur-Parwanoo Section of NH-22 including Pinjore-Kalka-Parwanoo Bypass, in Punjab (2 km), Haryana (21 km) and Himachal Pradesh (6 km) on Build Operate and Transfer (BOT) basis.

The agreement was signed on Friday by NHAI in the presence of Dr Jivtesh Singh Maini, Chairman, NHAI, with Jaiprakash & Associates.

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