MoU/Settlement Reached under Delhi-Gurgaon BOT (Toll) Project

National Highways Authority of India (NHAI) Board in its meeting held on 13.08.2012 finalised the MoU containing the terms of settlement in the matter of termination of the Concession Agreement of Delhi-Gurgaon BOT (Toll) Project. The MoU was given to the Concessionaire and the Financial Institutions (IDFC & 4 other Banks) for agreeing to the same. The matter came up for hearing on 30.08.2012 in Hon`ble Delhi High Court and Hon`ble Court granted a short adjournment till 17.09.2012 as requested by the Concessionaire for responding to the MoU. The matter was heard in Hon`ble Court on 17.09.2012 & 18.09.2012. Finally, the parties (NHAI, Concessionaire & Sr Lenders) signed the MOU in Hon`ble Court on 18.09.2012. The MoU mainly provides for the following:

To avail the concessions for local traffic, earlier the user public were paying for 60 trips per month by taking e-tag on payment of one time deposit of Rs 1500/-. Now the user public have to pay for only 40 trips without payment of cost of e-tag. The revised scheme is to be implemented within 15 days. The local traffic will get a concession of 50% for personal traffic and 33% for commercial traffic. Thus the cost of monthly pass for local traffic will be reduced by 1/3rd. This will enable more and more user public of local traffic to take monthly passes and avail concessions which will help in reducing the congestion at toll plazas due to less cash transactions.

A cheaper touch card technology at a nominal price will also be introduced.

In order to reduce the congestion at the toll plazas, additional 11 lanes will be provided at km 24 and additional 4 lanes at km 42 in a phased manner. Handheld devices will also be used for faster clearance.

For safe and smooth movement of traffic, modifications will be made at entry/exit locations on the project highway.

For improving traffic management, surveillance and safety, CCTV cameras will be installed on the entire project highway alongwith a control room equipped with a video wall to view all camera images.

IDFC & 4 other Public Sector Banks are recognized as Sr lenders for the project for a debt of Rs 1203 crore by reducing their exposure/debt by Rs 367 crore, i.e., Rs 367 crore would be returned by the Concessionaire to the Sr Lenders.

If the Concessionaire does not implement the measures as per MoU, NHAI reserved its right to terminate the Concession Agreement after giving a show cause notice.

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Sanjay Kumar/M/o RT&H/18.09.2012
(Release ID :87846)