Kolkata: A 7.5 km elevated road from Jinzira Bazar to Batanagar over the congested Budge Budge Trunk Road here would be built at a cost of Rs 255 crore.
The longest flyover in the state, to be built in PPP model, would be completed in two years, Urban Development Minister Firhad Hakim said today.
A consortium of L&T and others emerged as the highest bidder in the project structured by Bengal Urban Infrastructure Development Ltd, a joint venture of Urban Development department, Government of West Bengal and IL&FS, he said.
On finance, Hakim said the project was sanctioned under the JNNURM Mission with a 35 per cent grant, while the balance including cost overrun would be borne by the private partner.
He said a concession agreement was expected to be signed in February 2014 before which the consortium would complete formation of a SPV.
To a question, Hakim said the state government would not be required to make any investment in the project.
The private partners would raise the entire cost in 32 years by imposing toll tax on the users of the flyover, to be built on BOT basis, he said.
The focus of the Concession Agreement for a period of 32 years was on ensuring a high quality service for users of both the elevated and surface road.
The flyover would bring relief to residents of Maheshtala, Budge Budge and Pujali, three fast growing urbanised municipal areas housing around 12 lakh people and a large segment of industries, the minister added.