The Telangana government has decided to award the Outer Ring Road (ORR) to private concessionaire for maintenance on ‘Toll-Operate-Transfer’ (TOT) basis.
The decision has been taken as part of Asset Recycling, a concept developed by the National Highways Authority of India to generate funds for creation of new infrastructure, a press statement from HMDA informed. An introductory meeting on TOT of ORR has been held on Wednesday, to showcase the project and to take feedback from infra companies and fund managers, who would be the prospective bidders.
Transaction advisor and technical consultant LASA-CRISIL has been appointed for conducting various surveys, and preparation of bid documents.
There has been an encouraging response. Representatives of around 12 firms have attended the meeting, the statement said.
Metropolitan Commissioner T. Chiranjeevulu briefed the participants about the government’s intention to monetise the ORR Project and utilise the the upfront money for development of growth corridor on either side of the ORR.
