Yamuna Expressway to open in 2011: Jaypee
The 165-km Yamuna Expressway connecting Agra and Noida in Uttar Pradesh is likely to open from 2011, which is two years ahead of schedule.india Updated: Apr 26, 2010 20:08 IST
The 165-km Yamuna Expressway connecting Agra and Noida in Uttar Pradesh is likely to open from 2011, which is two years ahead of schedule.
"We are confident of completing the work of the Yamuna Expressway, which we will open in 2011 instead of the deadline of 2013," Jaypee Infratech Ltd director Sachin Gaur said on Monday.
"The entire land is in possession of the company and over 80 per cent of the land fill work is complete beside other related activities," he said.
Jaypee Infratech is a special purpose vehicle for implementation of the 165-km long six-lane access controlled Yamuna Expressway in Uttar Pradesh, connecting Noida and Agra.
If the toll rates by the company is allowed by the UP government, a car would be charged close to Rs 300 and three times more for a heavy commercial vehicle.
The total project cost is Rs 9,739 crore. Of the 6,175 acre land, it has got possession of 3,745 acres and expects to get the rest soon.
The firm will also undertake development on 6,175 acre at five locations along the expressway for commercial, industrial, institutional, residential and amusement purposes.
The company claimed that it has invested Rs 6,250 crore towards the project. The promoters' contribution of Rs 1,250 crore has already been infused.
Gaur said he expected that work for the 1,047 km Noida-Balia expressway will begin next year.
Meanwhile, the company will hit the capital market on April 29 with its proposed initial public offer (IPO) in which six crore shares with face value of Rs 1,650 crore would be issued by existing promoters.
The IPO will be through 100 per cent book building process with the price band fixed at Rs 102 and 117 per share.