Hyderabad, Mar 5 (Maxim News): Chief Minister K. Chandrasekhar Rao’s government plans to set yet another record, this time in terms of the revenue generated through the Toll, Operate, and Transfer lease of the Outer Ring Road (ORR) Expressway.
The Hyderabad Growth Corridor Limited (HGCL) which is engaged in the operations and maintenance of the ORR, has decided to undertake Toll, Operations, and Maintenance of the 158 km expressway through Public Private Partnership (PPP) on the Toll, Operate, and Transfer (TOT) basis for a period of 30 years.
To this effect, HGCL has invited bidders for executing the contract on lease. “As per our expectations, the 30-year lease will generate revenue of Rs. 6,000-7,000 crores per annum for HGCL
Presently, HGCL offers the operation and maintenance contract on an annual basis to private agencies. This fiscal, the lease contract generated revenue of nearly Rs. 400 crores. But there were a few challenges for the organization in executing the annual lease. HGCL had to invite bids from private agencies every year well in advance for the next year’s contract and this was consuming a lot of time in finalizing the bidders. Now HGCL has decided to extend the lease period to 30 years. “The Cabinet, which met recently, approved the 30-year lease period. This is being done as per the National Highways Authority of India guidelines. The HGCL has already conducted an online pre-bid meeting with prospective bidders to clear their doubts. HGCL said that land would be provided wherever available for the construction of additional toll lanes. (Maxim News)
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