KMP Expressways to be completed by 2009

KMP Expressways, the Special Purpose Vehicle promoted by DS Constructions, is set to complete the Kundli-Manesar-Palwal Expressway connecting Sonipat, Gurgaon and Faridabad by July 2009. This Rs 1,915 crore, 136 km expressway would be the first build-operate-transfer project. Announcing its financial closure, H.S. Kohli, chairman, KMP Expressways said, “We are proud to be the concessionaires of this prestigious project.” The project, he said, will match international standards.

On the benefits accruing from the KMP Expressway to the state, Mr. Rajeev Arora, MD, HSIIDC – which awarded the project – said, “The State Government has been promoting public and private sector initiative for establishing world class infrastructure in Haryana. The development of this Global Urban Corridor will give impetus to real estate, special economic zones (SEZ), independent townships, financial hubs, education city and so on.”

The expressway will also provide high-speed link to Northern Haryana with its Southern districts such as Sonipat, Jhajjar, Gurgaon and Faridabad, thereby giving boost to the local economy, Arora said.

More than 98 per cent of the land has already been acquired by HSIIDC and handed over to KMP Expressways and around Rs 100 crore has been invested into the project so far. Out of the total cost of Rs 1,915 crore, the SPV has tied up a debt of Rs 1,149 crore, through a consortium of 12 banks and financial institutions led by IDBI.