Toll on SP Ring Road to be revised
The toll tax will be revised, and as per new tender provisions, contractor companies developing the road will be paid annuities every six months.
The current concession company's toll collection term ends on Dec 31, 2026. Whether LMV passenger four-wheelers will continue to be exempt from the tax will be decided by the state govt at a later stage, officials said.
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On Feb 1 this year, Auda floated two tenders worth Rs 2,200 crore for six-laning of the 76km SP Ring Road. With the bids now opened, contracts are expected to be awarded soon. Package 1 of the project involves six-laning the road's 37km stretch in the city's eastern area while Package 2 involves six-laning of a 39.25km stretch in the western part.
It has also been decided to widen the 34km two-lane service road to four lanes, and the 15km three-lane service road to four lanes.
An Auda official requesting anonymity said, "Auda floated two separate tenders for the two packages on the Hybrid Annuity Model (HAM). Nine companies have bid for one package, while 11 have bid for the other. The bids for both packages have been opened and contracts will be finalised soon."
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"According to the tender provisions, 60% of the cost of six-laning will be borne by the contractor, while Auda will take care of the remaining 40%. New toll booths will be set up and Auda will collect revised toll tax for 15 years. According to the tender formula, a certain amount from toll tax revenue will be paid to the contractor companies as an annuity every six months."
Auda laid the SP Ring Road in 2006 on a build-operate-transfer (BOT) basis.
As traffic increased, it was decided to six-lane it with an expansion report prepared in 2017 and later approved. In Oct 2017, the Auda board, through resolution No. 267, exempted LMV passenger four-wheelers from toll tax on SP Ring road under its jurisdiction. Auda pays the concession company ARRIL Rs 40 to 50 crore annually to compensate for this loss in revenue.
In Feb 2019, ARRIL submitted a request letter expressing willingness to spend Rs 200 crore for the six-laning without funds from Auda.
In exchange, it requested an extension of its concession agreement, which ends on Dec 31, 2026, by three years and six months. The company also mentioned the possibility of amending the concession agreement regarding incremental costs and project revenue as guided by its financial lenders.
While Auda okayed the concessionaire bearing the six-laning expenses, it did not agree to extending the concession period.
The authority then appointed a third-party consultant to determine the bill of quantity and put a condition that if toll revenue increases, the additional amount should be given to Auda. The six-laning proposal was approved based on these conditions, but later cancelled in 2021.
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