The Hindu Business Line : Nellore bypass road ready two months ahead of schedule

Mr Rajendra Prasad Maganti (left), Chairman and Managing Director, Soma Enterprise Ltd, and Mr C. Visweswara Rao, CMD, Navayuga Engineering group, after a press conference in Hyderabad on Wednesday. - A. Roy Chowdhury

Hyderabad , Sept. 8

NYSE Infrastructure Pvt Ltd, a special purpose vehicle formed by Navayuga Engineering Company Ltd and Soma Enterprises Ltd, announced the completion of the Nellore bypass road, a part of the Chennai-Kolkata section of the Golden Quadrilateral project, two months ahead of schedule. The National Highways Authority of India (NHAI) has awarded the Rs 173-crore project to NYSE on build, operate and transfer (annuity) basis.

According to the Chairman of NYSE, Mr Rajendra Prasad Maganti, Nellore bypass is the first BOT (annuity) project to be completed amongst all such projects taken up by the NHAI.

The bypass will ease traffic congestion in Nellore town and over Pennar Bridge improving the existing trade route between the Eastern Corridor and South India.

Mr Maganti told newspersons here on Wednesday that NYSE had completed the project ahead of schedule, despite the railway authorities delaying submission of designs for a six-lane railway over bridge by nearly one year and construction of 17 additional culverts, which were not envisaged in the original project.

The delay caused due to non-submission of designs by the Railways had resulted in a cost over run of Rs 9 crore for the company.

Navayuga group Chairman, Mr C.V. Rao, said that the project included four-laning of a 17 km stretch of national highway number 5, construction of two three-lane bridges over Pennar river, a six-lane railway over bridge, five minor six-lane bridges, five access controlled underpasses and 67 culverts. To cope with future traffic requirements, all bridges and underpasses have been six-laned.

NYSE Managing Director, Mr S.B. Puri, said that the company would be responsible for the maintenance of the project for the next 15 years. NHAI would pay Rs 12.96 crore every six months as annuity. The total annuity amount, to be paid over a period of 15 years, would be over Rs 388 crore.

Mr C.V. Rao said that NYSE would also be completing another BOT project, a bridge over Krishna River near Vijayawada, 16 months ahead of schedule. The project involved an investment of Rs 71 crore.

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