New Delhi, June 13, 2018: Hyderabad has been on the global map for all the right reasons. A city progressing towards growth and development of infrastructure, it is ranked amongst the best places to live in India. With the Hyderabad Urban Development Authority expanding boundaries to make it the next Silicon Valley, there has been notable development in the city.
Leaving behind all the hurdles, the city of Nizams is set to be the next big industrial marvel in India. In an effort to give the city a comprehensive growth, the Hyderabad Metropolitan Development Authority (HMDA) came up with the idea of a 2,170 square kilometer growth corridor. With a width of 5 kilometer on each side of the outer ring road (ORR), the corridor is set to improve the annual revenue, and also determine land use. The outer ring road will be connected to these new growth corridors, giving the city some new commuting lifelines.
Also, parallel to the development of the city, the Telangana government has become the first to initiate asset monetization through ‘toll-operate-transfer’ (TOT) model. With a syndicate led by LEA Associates South Asia, Highways Ministry, the National Highways Authority of India (NHAI) and CRISIL Risk and Infrastructure Solutions, the project is one of the major ingredients that is helping the state in amassing substantial extra-budgetary resources for Telangana.
However, talking about the development of Telangana, and Hyderabad in particular, the role of private companies cannot be neglected. The implementation of TOT model is possible for the state only because of able infrastructure players.
Highway construction companies like KMC Constructions, which started in 1970, have played a major role in bringing the development of Hyderabad to the forefront. A global player, IRB Infrastructure Developers Ltd, is amongst the top players and has impacted the infrastructure of Hyderabad in a positive manner.
Taking its services a notch higher, IRB Services recently received the Letter of Acceptance (LOA) from Hyderabad Growth Corridor (HGCL) for the project of ‘Collection of user fee through an agency purely on temporary daily basis for Hyderabad Outer Ring Road for a length of 158 km in the state of Telangana, India’.
The allocation of the project to IRB Infrastructure Developers Ltd gives the company user fee collection rights on temporary basis at Hyderabad Outer Ring Road. Also, with Rs 87 lakh per day as the contractual amount, the toll operations started from May 23, 2018.
A win-win situation for both, the government and IRB Infrastructure Developers Ltd, the contract will help accelerate the growth of Hyderabad. Also, with welfare in perspective, the growth corridor and the toll collection are two of the most promising scenarios that will offer the city an unmatchable standard.
Hyderabad offers a contemporary lifestyle along with a hint of history in every corner. With developments like the corridor, the upcoming MNCs, multiple new residential projects, and the inclusion of key private players, the growth scale for Hyderabad is certainly set to increase.
Corporate Comm India(CCI Newswire)