Paliyekkara toll collection to cross Rs 1,650 cr in 2028

KOCHI: The toll collection on the 56-km Edapplly-Mannuthy four-lane highway will cross Rs 1,650 crore  at the end of the concession period in 2028 as against the revised total project cost of Rs 721.17 crore. This is as per the information provided by National Highway Authority of India (NHAI) to RTI activist Khalid Mundappilly.

The concession period is for 16 years from 2012 to 2028.  They have  already completed six years  and  collected Rs 644.10 crore. In the remaining nine years from  January 2019 to June 2028,  they will collect another Rs 1006.52 crore taking the total to Rs 1,650 crore.

The yearly increase based on changes in wholesale price index is expected to push the toll collection by another Rs 500 crore taking the total collection to over Rs 2,000 crore.

This calls for a detailed probe into the toll-based highway development and the agreement with Guruvayur Infrastructure Private Ltd (GIPL), says Khalid Mundappilly. The  average daily collection in December 2018 was Rs 34.95 lakh. Based on this estimate,  the collection in a year will be Rs 125.81 crore.

Mr. Mundappilly has worked out the toll collection in the next nine years without taking into account the revision in the toll-rate based on the wholesale price index and other increases. "If we take such increases into account, another Rs 500 crore will be easily pocketed by the company", he said. He  has also questioned the increase in the total project cost over the years. Initially, the project cost was Rs 312.50 crore which was later revised to Rs 630 crore before moving up further to Rs 721.17 crore.

"There is no transparency in the cost escalation to the tune of Rs 408.67 crore, which is higher than the original project cost. If we add this amount to the overall gain of the concessionaire,  the total benefit to the company will be to the tune of Rs 2,500 crore,"  he said.