STOCK MARKET BSE NSE

'We are Pinning Hopes on Big Fish'

Published: 27th May 2015 06:01 AM  |   Last Updated: 27th May 2015 06:01 AM   |  A+A-

KOCHI: Hoping to tap funds from foreign funding agencies, the government on Tuesday rolled out an ambitious multi-crore road development and flyover project in the state. “If we wait for the budget provisions to complete these projects, it will take at least 25 years for its completion. We hope the same projects could be completed within two years if we implement it through the annuity scheme utilising foreign funds and through BOT method. Our plan is to float competitive tenders for the big projects in which experienced big players are expected to participate,” Works Minister V K Ebrahim Kunju told reporters here.

 He said the budgetary allocation every year for the PWD is Rs 110 crore. “With this amount we will be able to give administrative sanction only to projects worth Rs 150 crore every year,” he said. The annuity scheme, he said, will be implemented in such a way that the construction company will be paid in 15 years.   Other key projects are the widening of Thammanam-Pulleppady Road, the Valiya Azheekkal bridge connecting Alappuzha and Kollam districts, various roads in Kollam, Pathanamthitta, Kottayam, Idukki, Malappuram and Palakkad districts, Padinjarekkotta flyover in Thrissur, Choondal-Guruvayoor-Chavakkad four-lane road,  Kozhikode-Mananchira-Vellimadukkunnu four-lane road, Thondayadu flyover, Ramanattukara flyover, the Sulthan Bathery bypass, Cherupuzha-Payyavur Highway in Kannur and Sandharappadavu-Cherupuzha Highway in Kasargod district.

JICA funds will be used for the state road development project under which 60 roads will be developed in three phases at a total expenditure of Rs 3,700 crore. The pilot phase of the project will be launched  within six months. This phase covers 106 km which will be constructed on a PPP-annuity model. These roads will be free from toll collection. The World Bank had already cleared the proposal for constructing 151 km of roads under KSTP at a cost of Rs 173 crore.

Stay up to date on all the latest Kerala news with The New Indian Express App. Download now

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp