ARSS signs concession agreement with OSRTC to develop Rs 102 cr modern bus terminal

BHUBANESWAR: The Orissa State Road Transport Corporation ( OSRTC) and ARSS Infrastructure Projects Private Limited ( ARSSIPPL) on Wednesday signed an agreement for developing a modern terminal at Baramunda in the city.

The agreement was signed between OSRTC general manager Sudarshan Das and ARSSIPPL vice president Malaya Ranjan Patnaik.

As per the agreement, the ARSSIPPL will spend ` 102 crore in the proposed modernisation of the terminal.

As a part of the agreement, ARSS has already deposited ` 56 crore up front license fee with the OSRTC and would pay 5% of the upfront fee with 15% 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.

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.

Transport commissioner Arun Samantaray, chairman and managing director of Industrial Infrastructure Corporation of Orissa Priyabrata Patnaik and ARSSIPPL chairman Subash Agarwal were among others present on the occasion.