Years-long traffic snarl in the Hazaribagh-Ranchi route in the State of Jharkhand will get over in a couple of years or more with the completion of four-laning of Hazaribagh – Ranchi section of NH 33.
The Cabinet Committee on Infrastructure (CCI) on Thursday approved the four-laning of Hazaribag –Ranchi section of NH-33 under National Highways Development project (NHDP) Phase III on Design, Build, Finance, Operate and Transfer (DBFOT/BOT) on Annuity mode.
The project cost for this 75 km long route is estimated as Rs.688.07 crore, including Rs.63 crores towards Land Acquisition (LA), Rehabilitation & Resettlement (R&R) and pre-construction activities and at the lowest quoted fixed semi annual annuity of Rs.64.08 crores for concession period of 18 years including construction period of 910 days.
The project will be developed by the National Highways Authority of India (NHAI) through Private Sector Concessionaires selected by NHAI following two stage bidding process. The Concession period for the project is 18 years which includes 30 months for construction.
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