It’s been more than five years but the dream project of Punjab’s deputy chief minister Sukhbir Singh Badal, of establishing the region’s first airconditioned inter-state bus terminus (ISBT)-cum-commercial complex in Sector 57, continues to remain under construction.
Considering the slow pace of work, the project — ‘Mohali Junction’ — which was scheduled to be completed in December 2011, has already missed deadlines and now it may take a year more.
The delay is costing the company a fine of Rs 40,000 per day and till date; the Delhi-based construction company, C and C Construction Limited, which was given the contract, has paid Rs 2.48 crore as fine to Greater Mohali Area Development Authority (GMADA). The cost of the project, which was initially Rs 355 crore, is now Rs 500 crore.
Chief administrator, GMADA, AK Sinha said, “We have written to Punjab Infrastructure Development Board (PIDB) for legal advice. If required, we will cancel the project.”
The Delhi-based construction company was given the contract of the project under public-private partnership (PPP) mode. Work began in April 2009 and was to finish in 2011. General manager (commercial) CVS Sehgal, C and C Construction, said, “Internal process is delaying the project, but we are trying our best to complete it by this October.”
Sources said the company had been facing severe financial crunch.
The complex, which is coming on 6.6 acres, will include a state-of-the-art AC bus terminal, a hotel, an office-cum-commercial tower and a helipad. The complex will be of 20 stories and the helipad will be on the rooftop. The company had already signed an agreement with cinema firm Cinepolis for allotting it around 70,000 sq ft space to set up a 10-screen Cineplex, while talks are on with the retail giant Future Group to open a mega departmental store at the complex site.