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NCRPB for slotting Delhi expressways in corridors

Our Bureau

NEW DELHI, July 15

THE National Capital Region Planning Board (NCRPB) has sought the inclusion of three expressway projects proposed in Delhi in the North-South and East-West corridors.

The expressway projects sought to be included are the 56-km-long Faridabad-Ghaziabad-Noida stretch costing Rs. 1,100 crores, the 49-km long Ghaziabad-Kundli section costing Rs. 750 crores and the 38-km-long Ghaziabad-Meerut stretch costing Rs. 384 crores , Ms. Sarita Das, Member Secretary, NCRPB, told Business Line.

``The board has written to the Prime Minister's Office in this regard and we are awaiting a response from the PMO,'' she added.

The NCRPB is seeking the inclusion after an attempt in 1999 to invite private sector participation in the these projects fell through.

The two short-listed parties shied away from submitting the financial bids, even after participating in a pre-bid meeting.

Meanwhile, the Japan International Co-operation Agency (JICA), appointed by the Government to conduct a feasibility study for the three expressway projects, submitted its final report to the NCRPB on Friday.

The feasibility report will form the basis for implementing the expressway projects. ``Discussions will now be held on how to proceed with the projects, the format to be adopted and how to raise finances for executing them,'' Ms. Das said.

In its final report, the JICA has recommended that the expressway projects be implemented as a private-public partnership, with the Government providing a guaranteed rate of return to the private investors.

It has also suggested a toll rate of Rs. 1.50 per km per passenger car unit, with indexation to the cost of living index.

The inclusion of these projects would mean concessions from the National Highways Authority of India (NHAI) for implementing them.

The NCRPB is also exploring the possibility of executing the projects through a special purpose vehicle (SPV).

The SPV would have equity participation from the NCRPB, the Government of India and the State Governments of Delhi, Rajasthan, Haryana and Uttar Pradesh.

The equity participation from the Government could be utilised to leverage funds from the private sector.

The NCRPB, which was constituted through an act of Parliament in 1985, has prepared Regional Plan 2001 for the NCR, which recommends a package of policies and strategies for achieving the region's objectives.

The plan has identified transport as one of the key sectors of development in the regional context.