NHAI receives cheque of Rs 16 crore towards negative grant

New Delhi, Nov 2 (UNI) Public sector National Highways Authority of India (NHAI) received a cheque of Rs 16 crore here today towards Negative Grant for elevated highway project on the Bangalore-Hosur Section of NH - 7.

Secretary, Department of Road Transport and Highways Vijay Singh received the cheque from from M/S Bangalore Elevated Tollway Limited in the presence of NHAI Chairman Pradeep Kumar. Prime Minister Manmohan Singh had laid the foundation stone for this project in June this year.

On completion, this 9.985 km stretch, from Silk Board Junction to Electronic City, would be a 4-laned Elevated corridor with two vehicular underpasses and four pedestrian underpasses. With a total project cost of Rs 450 crore, the construction of the Elevated Highway is expected to be completed in 24 months. The Agreement also includes an Operation and Maintenance (O and M) contract for a 24 km stretch.

The concession period is 20 years. This high traffic density corridor is being developed under National Highways Development Project (NHDP) Phase-III A.

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