NHAI receives negative grant cheque for T'Nadu project

New Delhi, Jan 17 (UNI) The National Highways Authority of India (NHAI) has received a cheque for Rs 55.11 crore as negative grant from GMR Ulundurpet Expressways Private Ltd towards four4-laning and strengthening of the existing two-laned Tindivanam-Ulunderpet section of NH-45.

The project, part of Phase-II of the National Highways Development Project (NHDP), would be taken up on BOT (Toll) basis, an NHAI official said.

NHAI Chairman Pradeep Kumar received the cheque from GMR Group Chairman G Subba Rao in the presence of senior officials from both sides.

The total negative grant for this project is Rs 152.10 crore, which will be disbursed up to the 13th year of the Concession period. When completed, this 71.25-km-long Tindivanam-Ulunderpet section of NH-45 would meet a longstanding demand of the people living in the region.

The total cost of the project has been pegged at Rs 480 crore while the concession period is for 20 years. As part of the agreement, the project has to be completed in 30 months (April 2009).

The project involves construction of three ROBs (Road Overbridges), three grade separators, five pedestrian underpasses, 20 bridges and three grade separators.

With this, NHAI has so far received negative grants worth Rs 1900 crore covering 17 projects under the NHDP. This includes the largest- ever negative grant of Rs 504 crore presented to Prime Minister Manmohan Singh in December last year for Bharuch-Surat section in Gujarat under NHDP Phase-VI.

Last week, the second largest negative grant of Rs 471 crore was presented to the Prime Minister for Vadodara-Bharuch package, also under the NHDP Phase-VI.

UNI