Betul-Parasia road construciton under BoT
March 25, 2013 03:24:00 PM
Betul-Sarni-Tikadhan-Junnardeo-Parasia section of Highway No; 43 will be constructed under BOT (toll+annuity). Its length is 124.10 kilometers. The cabinet has sanctioned this road, which will cost Rs 243.24 crore. Madhya Pradesh State Road Development Agency has been appointed as the construction agency for the road. It is expected to be completed in next 2 to two and half years. The State Government has decided to implement a novel scheme. Under it, power to collect toll will be given to private investors. Besides, annuity will also be paid every six months. This is a unique scheme of its own kind in the country. Concession period of the project is 15 years including period of construction.
Annuity amount will be fixed on tender basis. Private investors will have to construct road as per prescribed norms and maintain it throughout the concession period. This will provide a quality road to people for a long period. Distance-based toll rates will be imposed on the road. Two-wheelers, three-wheelers, tractor-trolleys and local transport will remain exempted from toll. Only distance-based toll rates will be charged, which are prevalent at roads constructed under BOT in the state. Toll rates will be revised on the basis of wholesale price index.