Naveen Patnaik lays foundation stone for modern bus terminus in state capital

BHUBANESWAR: Orissa chief minister Naveen Patnaik on Friday laid the foundation stone for construction of a “world-class” modern bus terminus at Baramunda here in the capital city.

The terminus will be constructed over 8.66 acres of land by country’s leading railway, port and airport infrastructure developer ARSS Infrastructure Projects Pvt. Limited (ARSS) with an investment Rs 15 crore. The project will be completed within a period of two years.

On March 16, ARSS has signed a concession agreement with the state government to develop the proposed bus terminus he capital city. As per the agreement, the company will also build commercial complex in another 5.77 acres of land on a 99-year lease basis. The complex – proposed to be built over a period of five years – will have all modern facilities like multiplex theatres, air-conditioned resting rooms, cloak rooms, lush green garden, luxury hotels and regulated parking bays for buses.

“This will be a world-class bus terminus with all modern facilities and adequate safety arrangement,” chief minister Naveen Patnaik said.

As per the agreement, for developing the commercial complex, ARSS will deposit a license fee of Rs 56 crore to the state-owned Orissa Road Transport Corporation (OSRTC) in three installments. Of this, the company has already made an advance deposit of Rs 18.66 crore with the OSRTC.

After construction of the project, ARSS will Rs 2.90 (5% of the concession) to the OSRTC every year, according to ARSS group chairman Subhash Agarwal.