JP set to get 30,000 cr E’way job
Infrastructure giant JP Associates is set to bag the contract for India’s largest private sector infrastructure project yet — the massive 1,047-km Ganga Expressway, reports Arun Kumar.business Updated: Jan 14, 2008 01:28 IST
Infrastructure giant JP Associates is set to bag the contract for India’s largest private sector infrastructure project yet — the massive 1,047-km Ganga Expressway, that will cut a swathe through Uttar Pradesh from Greater Noida in the west to Ballia in the east, and will lead to massive development all along the river.
The Rs 30,000 crore Expressway will be complete in four years, and will pass through Kanpur, Allahabad and Benares. The project will be commissioned on a build-operate-transfer basis, and the builder will have a 30-year period for charging toll.
Manoj Gaur, executive chairman, JP Associates, confirmed his company had emerged the lowest bidder. JP put in both separate and combined bids for all four stretches of the Expressway. This is the first time that a single company is set to bag the rights to build all stretches of a highway.
The second lowest bidder was Reliance Energy, which put in a combined bid of Rs 590 crore, sources said. Unitech, Gammon India and Zoom Developers bid for between one and three stretches of the Expressway. The total price of the land is Rs 293 crore at circle rates.
JP will also get the right to develop an estimated 15,000 acres of land along the Expressway. The Rs 50,000-crore company is already developing the Rs 6,000-crore Greater Noida-Agra Taj Corridor, and has got hosting rights for Formula 1 races in India.
For the first nine years of the project, the UP government will not announce any infrastructure projects such as special economic zones within 3 km on either side of the Ganga Expressway.
The expressway is expected to help prevent floods, besides ensuring high-speed direct connectivity between western and eastern UP.