Can give up toll plaza if state compensates us: S Raghuraman
CEO of expressway concessionaire Millennium City Expressway Private Limited (MCEPL) spoke to HT about his take on the toll plaza. He said MCEPL has to recover more than Rs 1,800 crore.
CEO of expressway concessionaire Millennium City Expressway Private Limited (MCEPL) spoke to HT about his take on the toll plaza. He said MCEPL has to recover more than Rs 1,800 crore.
What will be your stand if the Haryana government wants to take over the Kherki Daula toll plaza?
It is the government’s discretion to take over the toll plaza. Our only concern is that the money that has been invested to build the road needs to be paid to the banks. This is public money. If the money is paid to us, MCEPL has no problem in handing over the toll plaza to the government.
How much money is still to be paid to the banks? Is the toll plaza providing enough revenue to ensure the payback by 2023?
Despite the closing down of the Sirhaul toll plaza, we are working hard to meet bank commitments, NHAI fee and taxes. In 2015, MCEPL paid Rs 44.7 crore principal amount and Rs 12.10 crore as interest to the banks. We also paid 7.5% fee to NHAI and monthly payment of Rs 1.2 crore to the operator.
MCEPL claims that the high court has given a nod to the works done by it on the expressway. What steps have you taken?
We have laid the e-way afresh, set up electronic tolling system at all gates, paid commercial taxes and company fees and added three split lanes.
Industrialists in Manesar and villagers are complaining about the toll plaza?
We have issued smart tags to villagers for exemption from toll. MCEPL has exempted toll to the tune of `63 crore. We cannot exempt everyone.
(As told to Abhishek Behl)