The Noida Toll Bridge Co Ltd (NTBCL) is open to the idea of lowering toll rates on the DND Flyway connecting Noida to Delhi, in order to attract more traffic to the facility. But any major decision on the tolls would be taken only after the opening of the Ashram flyover in September.
"Based on the findings of a 'State of preference study' carried out by research outfit T N Sofres- Mode for gauging consumer reaction to the facility, we will be considering the fine tuning of existing schemes. We are also open to the idea of lowering the tolls on the bridge," NTBCL assistant vice-president Ajai Mathur said.
At just over six months after opening, traffic on the bridge has been averaging at around 20,000 vehicles a day. Prior to the launch of the project, incremental traffic for the project was being estimated at 50,000 passenger car units (PCUs) per day, which was projected to swell to 1,50,000 PCUs per day by 2017.
"When we opened the bridge on February 7, it was still an incomplete product. The facilities can be viewed in totality only after the Ashram flyover becomes operational in end-September. As commuters get stuck in traffic jams once they reach the Delhi side from Noida, they are apprehensive about taking the bridge now," Mathur said.
"Once the flyover at Ashram gets operational, we will be able to estimate the real traffic potential of the bridge. Therefore, all major decisions are being set aside for the opening of the flyover," he said.
A reflection of the problems on the Delhi-end is quite evident from the disproportionate volume of traffic flowing to either ends of the facility. While 60 per cent of the traffic presently flows from Delhi to Noida (there are no obstructions at the Noida end), only 40 per cent of the total vehicles using the facility travel towards the Delhi end (where getting stuck at the Ashram traffic jam is an inevitable conclusion).
There has been a slow but steady rise from around 14,000 vehicles at the opening of the bridge, to an average of 20,000 vehicles a day now. The traffic profile is flat throughout the day, with 30 per cent of the traffic comprising two wheelers, 60 per cent are cars and commercial vehicles using the bridge stand at only 10 per cent.
"The number of commercial vehicles using the bridge has been far below expectations and we are in the process of erecting a sales tax check point at the Noida end, so that trucks do not have to take a detour and go to the Noida-Delhi border to pay tax," Mathur said. Also, other incentives are being considered in order to woo commercial vehicles, he said.
NTBCL is a special purpose vehicle floated by the Infrastructure Leasing and Financial Services Ltd (IL&FS) and Noida authority. For the execution of the project, NTBCL, Noida authority and IL&FS have entered into a concession agreement whereby the company has been given the right to implement the project on a build-own-operate-transfer (BOOT) basis.
The total project cost was estimated at Rs 408 crore and has an equity component of Rs 122 crore, with the remaining Rs 286 crore coming by way of debt instruments. The concession agreement spans a period of 30 years (extendable by two years at a time), during which NTBCL has the option of transferring ownership of the facility to the Noida authority when it achieves post-tax internal rate of return (IRR) of 20 per cent per annum.
"In view of the long gestation period of the project, it is way too early to predict the success or failure," Mathur said.
