New Delhi: The National Highways Authority of India (NHAI) and the Delhi Development Authority (DDA) are working to expedite construction work on the Urban Extension Road-II, also termed as the third Ring Road, which will connect four national highways ( NH-1, 10, 8 and 2) and provide seamless access between north, northwest Delhi and IGI airport and Gurugram, officials aware of the development said.
The over ₹7,700 crore-project, which was conceived by DDA in 2016 but later handed over to NHAI in 2018, failed to take off due to financial issues. NHAI, which invited bids for the project in December 2019, asked the DDA to pay for the viability gap funding worth ₹4,000 crore, as the project was turning out to be costly. A senior DDA official said the solution to the financial viability has been worked out.
A senior NHAI official said, “It is an expensive project. We are exploring possibilities to make it financially viable.” However, a senior DDA official said, “The financial viability issue has been resolved.”
