Shillong, May 10: The National High Way Authority of India has assign the contact work to Leasing & Financial Services (ILFS) Ltd on the method of Build operates and Transfer (BOT) which the agreement was sign for 20 years.
Official from the public work department government of Meghalaya said that the time period given to the company by NHAI to complete the four lane GS Road from Khanapara to Umroi with thin three years and NHAI will collect tools from the road for 17 years and the amount get from collection of tools will be paid to the company who do the constriction work of the road.
Thought the method of the contract work is on BOT, but the difference in this work is that the Government of India founded 40% of the project cost and the company who do the construction work founded 60%. The amount that they have incurred will be realized from the tools that will be collected in the next 17 years.
Official said that according to the agreement sign NHAI will collect the tools from the road and pay to the construction company that do the work at the rate of Rs 75 lakh per month. If the amount collected from the tools do not met the required amount the government of India will bear the extra cost.
The state PWD official said that the tools collection has not been fix for various type of vehicles that will be plying on this road. State PWD official said that the four lane GS Road will be completed in time.(SP News)
