CHENNAI: Work on the 19.01-km four-lane elevated expressway from the Chennai Port Trust point to Maduravoyal on National Highway 4 will start in November and be completed in three years, said D.V. Raju, Soma Enterprise senior vice-president (business development), here on Wednesday.
“After signing the concession agreement with the National Highways Authority of India on May 18, we have started the preliminary work such as mobilisation, designing, casting yard, surveying and borehole soil investigation. Consultants have been finalised. The State government has to hand over 50 per cent of the land to us within six months from the date of signing the agreement and the balance within one year. The government is in the process of acquiring land and we don’t foresee any problem in starting the project on time,” he said.
According to him, the project costing Rs.2,090 crore will be undertaken on Build-Operate-Transfer (BOT) basis and the concession period is 15 years. The Centre will provide 40 per cent of the project cost as viability gap fund. The company has already received up front over Rs.260 crore.
Mr. Raju said the four-lane elevated expressway from the Central Silk Board junction to Electronics City in Bangalore would become operational in the next two months.
It is being built at a cost of Rs.760 crore.