Reliance Infrastructure today said it has completed the widening of the 136-km Salem-Ulundurpet (SU) stretch of its Rs 1,061-crore highway project in Tamil Nadu.
"Reliance Infrastructure, a part of the Reliance Group, has completed widening of the entire 136-km Salem-Ulundurpet road in Tamil Nadu through its Special Purpose Vehicle (SPV) - SU Toll Road Pvt Ltd," a company statement said.
Built at a cost of Rs 1,061 crore, the SU corridor connects major tourist destinations, industrial zones in Salem district and the Chennai international airport, the statement said.
The hill station of Yercaud in Tamil Nadu will also be easily accessible through this corridor.
"The project has been executed on Build Operate Transfer (BOT) pattern under National Highways Authority of India (NHAI)," the statement said adding that the company has been awarded the contract to operate and maintain the road for a concession period of 25 years.
"We are happy to complete the widening of the entire stretch of Salem-Ulundurpet road that will provide a hassle-free, safe and smooth driving experience. We expect an increase in traffic of over 4,000 more vehicles per day," Sudhir R Hoshing, CEO (Roads), Reliance Infrastructure, said.
The SU road has already been revenue operational since July 28, 2012, with two toll plazas located at Nathakkarai and Veeracholapuram. A third toll plaza at Mettupattai has now become operational. Toll collection has started at all toll plazas.
Shares of Reliance Infrastructure closed at Rs 351 apiece, up 2.51% on the BSE from previous close.
