Business & Economy

CCEA nod for four-laning of Hubli-Hospet section of NH-63 in Karnataka

NetIndian News Network

New Delhi, June 23, 2016

The Cabinet Committee on Economic Affairs (CCEA) yesterday  approved the development of four-laning of the Hubli-Hospet Section of national highway (NH)-63 in Karnataka. 
The cost of the project is estimated to be Rs. 2272.20 crore including cost of land acquisition, resettlement and rehabilitation and other pre-construction activities. The total length of the road to be developed is approximately 144 kms, an official press release said.
The work will be done under the National Highways Development Project (NHDP) Phase-IV on Engineering, Procurement and Construction (EPC) basis. 
The project will help in expediting the improvement of infrastructure in Karnataka and in reducing the time and cost of travel for traffic, particularly heavy traffic, plying between Hubli and Hospet, the release said.
The development of this stretch will also help in uplifting the socio-economic condition of this region in the State, it said.
The project was earlier approved on BOT (Toll). Bids were invited for the project three times and one more time with increased Viability Gap Funding (VGF). However, no bids were received. As such, it was decided to implement the project through EPC mode. The project has been appraised by Expenditure Finance Committee (EFC) in its meeting held in March, 2016, the release added.