Both Projects To Require Rs 4,821 cr Investment
VEHICULAR movement around Mohali-Baddi and Mohali-Phagwara in Punjab is all set to ease, become safer and faster with the proposal to build expressways.
Two Expressways one around Mohali covering Lalru-Mohali-Baddi with a proposed length of 65.3 km and another covering Mohali-Phagwara with a proposed length of 99 km are being conceptualised. Punjab Infrastructure Development Board (PIDB) has requisitioned the services of Feedback Ventures as a project developer on retainership basis for the Mohali-Phagwara expressway. and for the Lalru-Mohali-Baddi Expressway, IL&FS has been chosen as project developer. These two companies will help devise the projects right from the documentation stage till the time the contract is awarded to the private builder, to be executed on build, own and transfer (BOT) basis. A private player would be involved to execute the projects along with the requisite investment to be recovered later from toll tax.
Talking to ET here on Tuesday, PIDB MD Sukhbir Singh Sandhu indicated that the allignment for both the projects had been done and the next process would be the acquisition of land. He said the exp r e s s w a y around Mohali covering Lalru-Mohali-Baddi would involve an investment of Rs 2,660 crore of which cost of 1,497 acre land is estimated to be around Rs 1,205 crore. Around 3 km of the expressway will fall in Himachal Pradesh.
Similarly, the cost of the Mohali-Phagwara Expresway will be Rs 2,161 crore of which cost of land around 2,470 acres is estimated around Rs 500 crore.