Reliance Infrastructure (RInfra), part of the Reliance Group, today announced completion of the Trichy-Karur road in Tamil Nadu, undertaken through its Special Purpose Vehicle (SPV) TK Toll Road. This is RInfra’s tenth road project, which has achieved full commercialization.
The project is built at a cost of Rs 7.32 billion, the two-four laning of 63 kms of Trichy-Karur (TK) road has been completed and toll collection started.
The project has been executed on Build Operate Transfer (BOT) basis under the aegis of National Highways Authority of India. RInfra has been awarded the contract to operate and maintain the road for a concession period of 30 years.
TK road is a section of NH-67 connecting Coimbatore to Trichy, Kumbakonam, Tanjavur and Nagapatinnam. The road connects major tourist destinations such as Srirangam, Samayapuram, Kallanai, Mukkombu and also industrial zones. The corridor also connects more than 44 villages with important cities like Coimbatore and Bengaluru.
Commenting on this development, Sudhir R Hoshing, CEO (roads), Reliance Infrastructure, said, ''We are happy to announce completion of the project. The road will not just provide a hassle-free, safe and smooth driving experience for regular traffic, but also connect to industrial units and Trichy and Coimbatore international airports. The corridor will witness approximately 15,000 vehicles per day that is expected to double in the next four years.''
He further added, ''With the opening of TK corridor, now we have all of our six road projects worth Rs. 4,000 crore in Tamil Nadu operational.''
The scope of work on the project involved realignment and widening of the stretch with new bypasses. The average speed of vehicle will now double to approx 70 km/hr, thereby reducing the travel time by up to 30% and saving fuel cost by almost 30%.
RInfra already operates five road projects in Tamil Nadu - Nammakal to Karur; Dindigul to Samayanallur; Trichy to Dindigul; Salem to Ulundurpet and Hosur to Krishnagiri.
Shares of the company gained Rs 0.65, or 0.18%, to trade at Rs 364.55 at the BSE (Monday).
