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IDFC to take over Delhi-Gurgaon e-way project

Comments(4) Sub Category:Cities,Gurgaon,Infrastructure,Realty News Posted On: Feb 11, 2013

IDFC, the leading banker, is in talks over the takeover of the Delhi-Gurgaon Expressway project from the present concessionaire, Delhi-Gurgaon Super Connectivity Ltd (DGSCL). The NHAI has given its approval to IDFC’s purchase of 74% stake in the project.

Reports said that the approval does not imply that the company had taken over the project and started managing the expressway.

It was also said that the NHAI board gave approval in the principal for IDFC so that it can acquire up to 74 % ownership stake in the Delhi-Gurgaon Expressway project. Until the few conditions for the acquisition are addressed, IDFC will not takeover the project. As of now the expressway is managed by the existing concessionaire DSC Ltd.

The vice chairman and managing direction of the IDFC is in talks with DSC Ltd to resolve the outstanding issues that are being pending since long.

However, the recent developments, especially the toll plaza, have an adverse effect on the management of the expressway. DGSCL has reportedly lost interest in managing the daily affairs with the perception of IDFC taking over the project. This could be seen in the traffic chaos in the city.

Related Real Estate News:

Locals against DDA over converting sports hub to mall

Delhi-NCR housing sector to witness a fall in prices

4 Responses to “IDFC to take over Delhi-Gurgaon e-way project”

  1. [...] IDFC to take over Delhi-Gurgaon e-way project [...]

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  4. mansoor says:

    Now this is something which i think deserve more then its getting here.

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