Tata Realty & Infrastructure (TRIL) today said the work on the Rs1,370 crore four-laning of the 110km-long Pune-Solapur highway project from the existing two lanes has started.
The project, likely to be completed by mid-2012, is being built by Navinya Buildcon Pvt Ltd, a venture between TRIL and Italy's Atlantia SPA.
"The highway will ensure smooth traffic flow from Pune to Solapur, there by increasing commuting convenience and connecting centres of tourism as well as places of economic importance," TRIL managing director and chief executive officer Sanjay Ubale said.
Pune-Solapur Expressway Pvt Ltd, a special purpose vehicle of Navinya Buildcon Pvt Ltd, is executing the project and operate and maintain the highway for a period of 21 years following which it would be transferred back to the government.
The SPV, which raised a debt of Rs 959 crore through its lead banker IDBI Bank, would also build three flyovers, one railway over bridge and a number of bridges and culverts.
Comments