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DDA infuses funds in ₹7,700cr 3rd ring road project

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The Delhi Development Authority (DDA) has invested £7.25 billion in the construction of the Urban Extension Road (UER)-II, commonly known as the Delhi Ring Road. It was handed over to NHAI by the DDA because the agency was better equipped to handle a project of this size.

DDA and NHAI signed a memorandum of understanding to develop UER-II as a national highway. Getting to Indira Gandhi International Airport and South Delhi from the northern end of the capital is expected to be a hassle-free ride. The road will significantly improve the connectivity of Dwarka, Rohini and Narela sub-cities and proposed land concentration areas with the rest of Delhi and neighbouring states. By connecting the most important federal highways, it will make a significant contribution to easing traffic and improving air quality. The six-lane, access-controlled highway with service lanes will cost around Rs 770 crore, of which the DDA has agreed to fund a profit shortfall of Rs 36 billion. These will be released gradually. While Rs 1,787 crore will be funded by the Urban Development Fund, the rest will be covered by the DDA. Rs 900 crore was released in the 2021-22 financial year as work on the project gained momentum. To this end, the 2021-22 budget is estimated to be increased by £100 million and maintained at £725 million in the 2022-23 budget. NHAI has invited tenders for all sections of the 757.7km highway for which construction has begun. The completion date for the project is July 2023.

Complete News Source : NBM&CW

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