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Cost For India's Largest Expressway Reduces By A Whopping Rs 1520 Crores

According to Additional Chief Secretary UP Expressway Industrial Development Authority (UPEIDA) CEO, Mr Awanish Awasthi said that the bidding patterns have seen changes over the course of time. Earlier, the bidding involved stricter and higher criteria, which in turn, led to lesser bidders.

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Cost For India's Largest Expressway Reduces By A Whopping Rs 1520 Crores

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  1. Cost For India's Largest Expressway Reduces By A Whopping Rs 1520 Crores The foundation stone of India’s largest expressway, the Purvanchal Expressway, was laid on 14th July 2018 by Honorable Prime Minister, Shri Narendra Modi in Azamgarh, Uttar Pradesh. The 343 km expressway will be 6-laned, connecting Lucknow to Ghazipur, across 7 districts, and will also lessen the travel time between Delhi and Lucknow. While the proposal for the project was finalized in 2015, the project got a headstart in 2018. The original project cost, estimated in 2016, was set at Rs 12700 crores. However, with changes in the recent bidding patterns, the final budget for the expressway has been worked out at Rs 11200 crores. This drop of Rs 1520 crores in the project cost is being considered as a great achievement. According to Additional Chief Secretary UP Expressway Industrial Development Authority (UPEIDA) CEO, Mr Awanish Awasthi said that the bidding patterns have seen changes over the course of time. Earlier, the bidding involved stricter and higher criteria, which in turn, led to lesser bidders. However, with the current bidding policies upgraded to NHAI standards, there have been lower bids, which has brought forth greater competition among the interested buyers. Due to the updated bidding policies, the number of bidders for the Purvanchal Expressway was 76, including Larsen & Toubro, Afcons Infrastructure and Reliance Infrastructure. The loan that was earlier finalized for the project was Rs 12000 crores, at an interest rate of 8.7%. The Purvanchal Expressway Project has been handed over to 5 companies, Gayatri Projects, Apco Infratech, GR Infra Projects, PNC Infratech and Oriental Structural Engineering. Set to be completed in 8 packages, the project is divided into 2 packages each for Gayatri Projects, GR Infra Projects and PNC Infratech, and one each for Apco Infratech and Oriental Structural Engineering. The new bidding policy has allowed different bids for different packages. The Purvanchal Expressway is estimated to be completed and operational in 2 and a half years. #PurvanchalExpressway #IndiasLargestExpressway #NHAI #HighwayConstruction

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