New Delhi, Apr 2 (UNI) Prime Minister Manmohan Singh will lay the foundation stone on Wednesday of a Rs 325-crore National Highways project to six-lane a 10-km stretch in Panipat city in Haryana that will greatly ease traffic congestion in the northern state.
The highlight of the project, to be undertaken by the National Highways Authority of India (NHAI), is construction of a 3.4-km-long elevated highway spanning the busy and congested crossings of Gohana, Sanauli and Assand roads till Skylark tourist complex where Haryana's mini-secretariat is proposed to be built.
The project, to be completed in three years, would be built on the Build, Operate and Transfer (BOT) basis and would form part of the North-South Corridor, an NHAI official said.
The official said NHAI had already entered into an agreement for this project with L&T Panipat with a negative grant of Rs 96.4 crore. Under the agreement, L&T Panipat would retain control over that stretch of the highway for a period of 20 years.
''Funds will not be a constraint in the implementation of the project,'' he said.
Last week, NHAI was accorded the highest AAA rating from Fitch Ratings to its proposed Rs 8,000 crore long-term debt programme.
In a statement, Fitch said NHAI has become the extended arm of the Indian government because of it being the sole agency for the implementation of the crucial National Highways Development Project (NHDP).
The Panipat highway project will have a separate two-lane peripheral road for the local traffic and two underpasses, besides a new bridge covering peripheral roads and main carriageway.
The project would have all the trappings of a state-of-the-art highway, including toll plaza, traffic safety features, road furniture and road signages, the official said.