New Delhi: Reliance Infrastructure Limited (RInfra), one of the largest road developers in the country, has commenced the operation of its sixth road project worth Rs 800 crore entailing four laning of Gurgaon - Faridabad and two laning of Ballabhgarh - Sohna road. The company had executed the 66-kilometre project through its Special Purpose Vehicle (SPV) and will be collecting toll for a period of 17 years.
The Gurgaon- Faridabad corridor connects major tourist destinations, industrial zones, corporate offices and International airport (T3) of Delhi. This 66 kms long corridor includes Gurgaon-Faridabad, Ballabhgarh-Sohna, Pali Bakri, Surajkund Road.
"The corridor will witness approximately 36,000 vehicles per day that is expected to double in the next five years," said Lalit Jalan, CEO, Reliance Infrastructure.
He further added " Road sector is a key business for Reliance Infrastructure as it gives minimum targeted return on equity and enhances the valuation of our existing Road Portfolio. With current order book of eleven road projects, we will generate from next financial year a revenue of Rs.1200 crore per year with 15% y-o-y growth rate."
The average vehicle speed on this corridor now will go up from 12km/hr to 60km/hr, thereby reducing the traveling time by 40% - 50% and saving almost 40% on fuel cost. Commuters traveling the entire stretch of Gurgoan - Faridabad - Ballabhgarh - Sohna road can now cover this distance in less than two hours whereas earlier this same distance used to take almost five hours.
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