Karur, Tamil Nadu, Jan 20 (UNI) The National Highways Authority of India (NHAI) handed over the 80-km stretch of the National Highway-67 (NH-67), between here and Tiruchirapalli, to a subsidiary of the Reliance Infrastructure Limited (RIL) for developing two-lane and four-lane stretches at an estimated cost of Rs 560 crore.
NHAI sources here today said an MOU was signed between RIL and the Tiruchi-Karur Tollway Limited (TKTL) in July last, under which the concession period commenced from January 17 running up to 30 years, including the 30-month period for developing the stretch.
The RIL had introduced a special purpose vehicle for developing and maintaining the stretch on a 'build-operate-transfer' mode by collecting toll for use, the sources said adding work was expected to be completed by July 2010.
A sum of Rs 1.53 crore had been sanctioned for the repair of damaged road between here and Tiruchirapalli the work on which would be completed before February 15.
UNI RV DS AE RK2039