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KMP(Kundli-Manesar-Palwal) Expressway Jacks Realty Prices Up Along Route

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KMP(Kundli-Manesar-Palwal) Expressway Jacks Realty Prices Up Along Route

Last updated: November 16 2011
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  • #11

    #11

    Re : KMP(Kundli-Manesar-Palwal) Expressway Jacks Realty Prices Up Along Route

    KMP expressway is at least 3-4 years from completion. If they plant the trees now, chances are trees would have grown up by the time road is completed.

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    • #12

      #12

      Re : KMP(Kundli-Manesar-Palwal) Expressway Jacks Realty Prices Up Along Route

      KMP Expway may miss deadline again

      The monthly progress of the upcoming Kundli-Manesar-Palwal (KMP) Expressway has dropped down during the first three months of this year. At the present pace, it is unlikely that the concessionaire will be able to complete the project by November 2011, the latest deadline committed by it. KMP Expressways Ltd, the concessionaire, has already missed the April 30 deadline for opening traffic on the priority section of Manesar to Palwal.

      “In light of the dwindling progress it is certain that the concessionaire is not going to keep up to his commitment again,” said a senior official.

      The monthly progress of the 135.65-km-long expressway went down to 1.06%, 0.88 % and 0.91% during January, February and March respectively.

      As per the latest bulletin, the concessionaire has achieved a physical progress of 61.32% (R908 crore) till March 31, 2011 against the original commercial operation date (CoD) of July 29, 2011 and revised CoD of December 31, 2010.

      “The monthly progress of the project had been continuously much below the targets fixed by the concessionaire and in view of the slow progress of the work, secretary, Union Ministry of Road Transport and Highways, who is the chairman of the monitoring committee has expressed dissatisfaction on the project,” said an official, who attended the April 5 review of the project conducted by the High Powered Committee (Expressways).
      Though the chairman of the Centre’s monitoring committee has asked Haryana to take appropriate action as per the concession agreement, it seems the state government is not too keen on invoking the penal clauses of the agreement.

      Group chairman of KMP Expressways, HS Kohli, on the other hand, has expressed reservations regarding the proposed penal action as per the minutes of the April 5 meeting.


      KMP Expway may miss deadline again - Hindustan Times

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      • #13

        #13

        Re : KMP(Kundli-Manesar-Palwal) Expressway Jacks Realty Prices Up Along Route

        The high powered committee on Express Highways has recommended invoking penal action against the concessionaire KMP Expressways Ltd - a consortium of DSC Ltd and Apollo Enterprises, for delaying the Kundli-Manesar-Palwal (KMP) Expressway project. After detailed deliberations, a decision to this effect was taken in the meeting of the committee held here today under the chairpersonship of Haryana Chief Secretary Urvashi Gulati. The penal action would be initiated against the Concessionaire in accordance with the provisions stipulated under clause 15.4 of the Concession Agreement for which a detailed show cause notice would be issued to the consortium. The State [COLOR=blue !important][COLOR=blue !important]Government[/COLOR][/COLOR] had continuously been raising concern for the slow progress of work. The Team Leader, Independent [COLOR=blue !important][COLOR=blue !important]Consultant[/COLOR][/COLOR] and representative of IDBI [COLOR=blue !important][COLOR=blue !important]Bank[/COLOR][/COLOR], the lead lenders for the project, who were also present in this meeting also agreed with the decision of the State Government. It was informed that the Concessionaire had been shifting completion targets time and again despite the fact that the said targets in the earlier various review meetings were proposed by the Concessionaire themselves. In the last review meeting the Concessionaire was asked to give a firm commitment to complete the project, otherwise State Government would not hesitate to invoke action as per terms of Concession Agreement. MORE UNI MA SY AS1814

        news.webindia123.com/news/articles/India/20111116/1873252.html


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        • #14

          #14

          Re : KMP(Kundli-Manesar-Palwal) Expressway Jacks Realty Prices Up Along Route

          ?

          Originally posted by washinton View Post
          The high powered committee on Express Highways has recommended invoking penal action against the concessionaire KMP Expressways Ltd - a consortium of DSC Ltd and Apollo Enterprises, for delaying the Kundli-Manesar-Palwal (KMP) Expressway project. After detailed deliberations, a decision to this effect was taken in the meeting of the committee held here today under the chairpersonship of Haryana Chief Secretary Urvashi Gulati. The penal action would be initiated against the Concessionaire in accordance with the provisions stipulated under clause 15.4 of the Concession Agreement for which a detailed show cause notice would be issued to the consortium. The State [COLOR=blue !important][COLOR=blue !important]Government[/COLOR][/COLOR] had continuously been raising concern for the slow progress of work. The Team Leader, Independent [COLOR=blue !important][COLOR=blue !important]Consultant[/COLOR][/COLOR] and representative of IDBI [COLOR=blue !important][COLOR=blue !important]Bank[/COLOR][/COLOR], the lead lenders for the project, who were also present in this meeting also agreed with the decision of the State Government. It was informed that the Concessionaire had been shifting completion targets time and again despite the fact that the said targets in the earlier various review meetings were proposed by the Concessionaire themselves. In the last review meeting the Concessionaire was asked to give a firm commitment to complete the project, otherwise State Government would not hesitate to invoke action as per terms of Concession Agreement. MORE UNI MA SY AS1814

          news.webindia123.com/news/articles/India/20111116/1873252.html


          It's still not clear by this news, what is the outcome of this meeting,show cause notice was issued in actual or a new commitment by Concessionaire...
          __________________________________________________ __________
          It is better to be blind than to see things from only one point of view

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