Centre announces Rs 750 cr Express Highway from Chennai Port
Chennai, April 6 (PTI): A 13-kms Express Highway from Chennai Port to Maduravayal to facilitate easy movement of containers from the port will be constructed at a cost of Rs 750 crore, Union Minister of Shipping, Road Transport and Highways T R Baalu said today.
National Highway Authority of India (NHAI) and Chennai Port Trust (ChPT) would hold 30 per cent equity stake each in the proposed project while the port users such as exporters and importers have agreed to take another 10-12 per cent equity stake, he told reporters here.
Baalu said the remaining 30 per cent cost of the project would be met through debt and other loans.
This will be the third express highway in the country after the Mumbai-Pune Express Highway and Ahmedabad-Baroda Express Highway, he said.
Baalu said ChPT was setting up a second terminal and a ship repair facility at the Port. With the movement of containers to and from the Chennai Port likely to go up in the future, the Union Minister said it was necessary to build an Express Highway for "evacuating the huge containers". The proposed Express Highway would ease the traffic and avoid congestion," he said.
The Express Highway, which would be from the Gate Number two of ChPT to Maduravayal, will cover 13 kms. The Government would also consider charging user fees for the vehicles on the proposed Express Highway, Baalu said.
http://www.hindu.com/thehindu/holnus/004200504061851.htm
National Highway Authority of India (NHAI) and Chennai Port Trust (ChPT) would hold 30 per cent equity stake each in the proposed project while the port users such as exporters and importers have agreed to take another 10-12 per cent equity stake, he told reporters here.
Baalu said the remaining 30 per cent cost of the project would be met through debt and other loans.
This will be the third express highway in the country after the Mumbai-Pune Express Highway and Ahmedabad-Baroda Express Highway, he said.
Baalu said ChPT was setting up a second terminal and a ship repair facility at the Port. With the movement of containers to and from the Chennai Port likely to go up in the future, the Union Minister said it was necessary to build an Express Highway for "evacuating the huge containers". The proposed Express Highway would ease the traffic and avoid congestion," he said.
The Express Highway, which would be from the Gate Number two of ChPT to Maduravayal, will cover 13 kms. The Government would also consider charging user fees for the vehicles on the proposed Express Highway, Baalu said.
http://www.hindu.com/thehindu/holnus/004200504061851.htm
