HYDERABAD: The state government has urged the Centre to extend the loan closure date of the Outer Ring Road (ORR) by another two years in order to complete the pending works.
The Hyderabad Growth Corridor Limited (HGCL), a wing of Hyderabad Metropolitan Development Authority (HMDA), took up the 158 km of ORR works with loan assistance from Japan International Cooperation Agency (JICA) in two different phases.
As per the loan agreement reached between the state government and JICA authorities under Phase-I, which was about Rs 1,468.52 crore, three package works, illumination of Phase-I from Gachibowli to Shamshabad and supervision consultant for JICA-I were proposed.
As per the agreement, these works had to completed before March 2016.
The HMDA has completed package I and II works whereas in respect of package-III works, entire work was completed except for construction of a crucial interchange of Kandlakoi junction near Medchal costing Rs 125 crore.
The work got delayed due to status-quo orders by the Supreme Court from 2010 as some private parties approached the Court against land acquisition by HMDA.
A total expenditure of Rs 1,299.99 crore was spent for the works so far and another Rs 175 crore would be incurred for completing the balance works.
Due to fluctuations in foreign exchange and economical bidding, a substantial savings of Rs 833 crore were found in the loan agreement.
The stay was vacated only in October last year after which works were taken up at a brisk pace which is expected to be completed in a span of 12 months.
The illumination of Phase-I from Gachibowli to Shamshabad also got delayed and is expected to be completed by this year end.
MAUD minister KT Rama Rao has written a letter to Union Finance Minister Arun Jaitley requesting extension of the loan closure by another two years for completing the balance works. The proposal has been examined by the MAUD and recommended for consideration by Department of Economic Affairs (DEA) a few days ago.
158 km Long
8lane ring road expressway
Designed for speeds up to 120 km per hour
Being built at a cost of Rs 6,696 crore with an assistance of Rs 3,123 crore from JICA
Package-I covers Patancheru to Mallampet (11.30 km) Package-II from Mallampet to
Dundigal (11 km)
Package-III from Dundigal to Shamirpet (15.50 km)