Financial Daily from THE HINDU group of publications
Saturday, Mar 23, 2002
Financial Daily from THE HINDU group of publications Saturday, Mar 23, 2002 |
|
|
|
|
|
Logistics
-
Roadways ECR to become toll road from tomorrow Our Bureau
CHENNAI, March 22 THE Tamil Nadu Road Development Co Ltd (TNRDC) intends to commence collecting toll from Sunday (March 24) from East Coast Road users between Chennai and Pondicherry, according to reliable sources. When contacted by Business Line, sources said this follows the approval and notification of toll operation by the State Government on Thursday. The Government has notified the following toll structure, which will be in effect up to March 31, 2003. TNRDC will offer a 20 per cent discount on the return trip and a 40 per cent discount on a 50-trip pass for regular users, they said. Two-wheelers, non-motorised vehicles and tractors, and vehicles such as ambulances, fire tenders and P&T vehicles have been exempted from the toll, sources said. Thus, a degree of social responsibility has been built into the toll structure, with agriculturists and the poor given due consideration. Further, the toll collection will be done by ex-servicemen. The Tamil Nadu Ex-serviceman Corporation on the Tamil Nadu side and the Sainik Welfare Board on the Pondicherry side would coordinate this operation, they said. The TNRDC is a 50:50 joint venture between the Tamil Nadu Industrial Development Corporation, a State Government agency, and IL&FS. The TNRDC is upgrading the East Coast Road from Kudimiyandithoppu, about 15 km outside Chennai limits, to Pondicherry at a cost of Rs 60 crore. The project is funded through Rs 10 crore of equity contributed equally by the Tamil Nadu Government and IL&FS, Rs 10 crore of subordinated debt, and Rs 40 crore of debt underwritten by IL&FS. The improvements envisage road quality of international standards with a smooth surface, paved shoulders, retro-reflective signs in the middle of the road and on-the-side margins, signboards and toll plazas. Also, round-the-clock patrolling and a help line in case of any emergency.
Send this article to Friends by E-Mail
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | Home |
Copyright © 2002, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|