ARSS signs concession agreement with Orissa

{ Posted on Mar 20 2011 by Admin }

Bhubaneswar, March 16: Country’s leading infrastructure developer ARSS Infrastructure Projects Private Limited singed a concession agreement with the Orissa State Road Transport Corporation (OSRTC) for developing a modern terminal in the capital city.  The agreement was signed between OSRTC general manager Sudarshan Das and ARSSIPPL vice president Malaya Ranjan Patnaik.  As per the agreement, the ARSSIPPL has been given a concession period of 15 years plus two years spent on construction. “Considered to be the gateway of Orissa, the modernization of the Baramunda bus stand would greatly add to the state government’s effort to improve our infrastructure facilities,” state transport minister Sanjeev Sahoo, who was present during the MoU signing ceremony, said.  The proposed modernization include facilities like air-conditioned waiting hall, retiring rooms for transporters, e-ticketing system, kiosks, food courts, cloak rooms, complete landscaping all around the facilities. It will have commercial facilities such as malls, multiplex, corporate offices, budget hotels, incidental residential complexes. The lease period for commercial facilities has been pegged at 90 years. As per the agreement, the ARSSIPPL will invest Rs 102 crore in the proposed modernisation of the terminal. ARSSIPPL has already deposited Rs 56 crore up front licence fee with the OSRTC and would pay 5 per cent of the upfront fee with 15 per cent hike on every third year.The bus terminal with all modern facilities over the 14.43-acre will be completed with two years. The commercial facilities in the terminal will be completed in five years. Three of the Bhubaneswar legislators – Bhagirathi Badajena, Bijoy Mohanty and Ashok Panda – were present during the MoU signing ceremony. Besides, transport commissioner Arun Samantaray, chairman and managing director of Industrial Infrastructure Corporation of Orissa Priyabrata Patnaik and ARSSIPPL chairman Subash Agarwal were among others who attended the function.

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