New Delhi: Reliance Infrastructure, part of the Reliance Group, today said its Rs 556-crore road project connecting Jaipur and Reengus in Rajasthan has become operational.
"Reliance Infrastructure Ltd through its Special Purpose Vehicle (SPV) -- JR Toll Road Private Ltd -- today announced the commencement of its road project from Jaipur to Reengus in Rajasthan," a company statement said.
The four laning of the 52 km Jaipur-Reengus road has been completed and toll collection has started.
"The Rs 556-crore project has been executed on DBFOT (Design, Build, Operate, Finance and Transfer) pattern under the aegis of National Highways Authority of India," the statement said adding, "Reliance Infrastructure has been awarded the contract for a concession period of 18 years."
Jaipur-Reengus road is a section of NH-11 running through two major districts of Rajasthan's - Jaipur and Sikar.
The road connects major tourist destinations and religious places such as Khatu Shyamji and Salasar Balaji, industrial zones and Jaipur international airport.
The corridor also connects rural villages with urban cities. More than 50 villages including Rajawas, Govindgarh, Dhodser etc will now be connected with Jaipur.
"We are pleased to announce the completion of the widening work of the JaipurReengus road, which is a part of NHDP Phase III. The corridor will provide hassle-free, safe and comfortable travel to commuters with travel time reduced to almost half and approximately 40 percent of fuel saving," Sudhir R Hoshing, CEO (Roads), Reliance Infrastructure said.
The corridor will also reduce the rural-urban gap by connecting more than 50 villages with the State capital and other major cities," he said
He further added, "The corridor will witness traffic density of approximately 22,600 vehicles per day, which is expected to double in the next four years. For the safety and security of commuters, the corridor will have 24x7 patrolling cars, ambulance services and medical centre."
Shares of Reliance Infrastructure were trading at Rs 392.80, up 1.64 percent on the BSE in early trade.
First Published: Tuesday, July 23, 2013, 12:30