Essel Infraprojects, the infrastructure arm of the Essel Group, has won two major Built-Operate-Transfer (BOT) contracts in north India.
The Prime Minister Narendra Modi laid the foundation strone for the both the highway projects that connect six states to the Capital.
The two projects one at Mukarba Chowk Panipat Toll Road and the other at Kundli Manesar Expressway are likely to decongest traffic in Delhi, and ease mobility within the six major states.
Ashok Agarwal, Chief Executive Office (CEO), Essel Infraprjects, said that the two projects will help reduce travel time and decongest traffic.
The Essel Group intent to participate in the growth story of our nation by upgrading the road network across the country and therefore propelling the economy to superior heights. The subsidiary – Essel Infraprojects, our lead partner, currently has 15 road projects across India with order book close to Rs 10,000 crore. The company has so far executed more than 3,600 kms stretch across nine states in India.
The estimated cost for the Mukarba Chowk Panipat Toll Road project stands around Rs 2,128 crore, the work involves widening of the road connecting Jammu & Kashmir, Punjab, Himachal Pradesh, Haryana, Chandigarh and Western Uttar Pradesh to Delhi, as per the release issued by the company.
To cope with the heavy flow of traffic, the highway is proposed to be 8-laned with 2-lane service roads on each side. Essel Infraprojects had bid for the project in the month of March 2015 and the Letter of Award was given on July 24, 2015.
The cost for the Kundli Manesar Expressway project is pegged at Rs 1,863 crore. Both the projects are expected to be completed in 2.5 years.
Once completed, the 69.90 km Mukarba Chowk Panipat Toll Road will help save about 30 minutes of precious travel time which is currently close to 120 minutes in heavy traffic. The 83.320 km Kundli- Manesar Expressway too will be a boon for travellers going to the north because they will not have to enter Delhi city and a vehicle will be able to cover the project stretch in an hour's time since it will be access-controlled, the release added.
Elaborating on the details for both the projects, Ashok Agarwal, said, “Both the projects are ambitious projects that will provide convenience to travellers, will help in cutting unnecessary travel time, decongest traffic and strengthen the path of development. Due to a heavy load of urban traffic in Delhi, long distance vehicles always face several issues including high travel time, reduction in fuel efficiency and pollution. As a solution, the Supreme Court has suggested developing the Western Peripheral Expressway, that is, the Kundli-Manesar-Palwal Section. The stretch we are developing is part of the same.”