120 km/hr Delhi-Mumbai expressway to be fast-tracked
The National Highways Authority of India (NHAI) has said it has formed a special purpose vehicle (SPV) to fast-track the Delhi-Mumbai Expressway project.
“NHAI has proceeded to form a Special Purpose Vehicle (SPV) company for financing, construction and operation of the Delhi-Mumbai ‘Greenfield’ Expressway,” the company said in a statement.
The SPV has been registered by the name of ‘DME Development Ltd’ and will be wholly owned by NHAI, it said. “By floating SPV specific to a corridor, the NHAI is aiming at diversifying its resource base and developing a sustainable and self-liquidating approach to raise finances,” it said.
Spanning 1,275 km, it will be an eight-lane expressway with provision to expand to 12-lanes in the future. It has a design speed of 120 km/hr and will be India’s longest ‘Greenfield Expressway’. The NHAI said the corridor will be completely access controlled with a closed tolling.
A network of 75 wayside amenities is also planned on either side of the expressways at an interval of 50 km.
“The project has a capital cost of Rs 82,514 crore which includes land acquisition cost of Rs 20,928 crore. Considering the significance of the project, the authority has decided to invest the full equity and proceed with the development,” the statement said.
The completion of the expressway is projected by March 2024.