Hyderabad: The Outer Ring Road (ORR) which is an 8-lane ring road expressway encircling Hyderabad is likely to be leased out to a private player for 30 years.
According to a report published in DC, Hyderabad Metropolitan Development Authority (HMDA) is exploring options to lease out ORR to raise a revenue between Rs. 4000 crores and Rs. 6000 crores.
At present, Eagle Infra India Limited is collecting tolls and remitting them to HMDA. In 2019-20, the development authority got Rs. 351 crores whereas, in 2020-21, it received Rs. 310 crores. The fall in revenue is due to the COVID-related lockdown.
In 2021-22, HMDA got Rs. 421 crores.
For a long-term lease, HMDA will take the help of a transaction adviser (TA). For a period of 20 years, ORR is likely to be leased for Rs. 4000 crores whereas, for 30 years, it may be leased for Rs. 6000 cores.
The tender for the lease will be invited after receiving the government nod.
Outer Ring Road
It is officially called Jawaharlal Nehru Outer Ring Road. It is connected to Inner Ring Road through 33 radical roads.
It not only improves connectivity from Hyderabad to Vijayawada and Warangal but also reduces travel time from Rajiv Gandhi International Airport to Nizamabad and Adilabad.