The cost of travel on the Delhi-Gurgaon expressway will soon come down by around a third following a new pact signed by National Highways Authority of India (NHAI) and other parties involved in the project.
"To avail the concessions for local traffic, earlier the user public were paying for 60 trips per month by taking e-tag on payment of one-time deposit of Rs 1500. Now, the user public have to pay for only 40 trips without payment of cost of e-tag," an official statement from NHAI said.
The Memorandum of Understanding (MoU), which provides concessions to the local public for the use of the expressway, was signed on Tuesday.
The revised scheme is to be implemented within 15 days. The local traffic will get a concession of 50 per cent for personal traffic and 33 per cent for commercial traffic.
"The revised scheme is to be implemented within 15 days. The local traffic will get a concession of 50 per cent for personal traffic and 33 percent for commercial traffic. Thus the cost of monthly pass for local traffic will be reduced by 1/3rd. This will enable more and more user public of local traffic to take monthly passes and avail concessions which will help in reducing the congestion at toll plazas due to less cash transactions," the statement said.
The issues relates to signing of the MoU containing terms of settlement in the matter of termination of the Concession Agreement of Delhi-Gurgaon BOT (Toll) Project between NHAI and the Concessionaire and the Financial Institutions (IDFC and 4 other Banks), a statement said.
The issue was heard by the Delhi High Court on August 30 and the court had granted a short adjournment till September 17 as requested by the concessionaire for responding to the MOU.
In order to reduce the congestion at the toll plazas, additional 11 lanes will be provided at km 24 and additional 4 lanes at km 42 in a phased manner. Handheld devices will also be used for faster clearance.
For safe and smooth movement of traffic, modifications will be made at entry/exit locations on the project highway.
For improving traffic management, surveillance and safety, CCTV cameras will be installed on the entire project highway alongwith a control room equipped with a video wall to view all camera images.
IDFC and 4 other Public Sector Banks are recognized as Sr lenders for the project for a debt of Rs 1203 crore by reducing their exposure/debt by Rs 367 crore, i.e., Rs 367 crore would be returned by the Concessionaire to the Sr Lenders.
If the Concessionaire does not implement the measures as per MoU, NHAI reserved its right to terminate the Concession Agreement after giving a show cause notice. (ANI)