Yamuna Express to open for traffic from March 2011

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Feb 27, 2010, 7:01:08 PM2/27/10
Yamuna Express to open for traffic from March 2011
TNN, Feb 27, 2010, 11.00pm IST

VADODARA: Jaypee Infratech Limited (JIL), an infrastructure company of
Jaypee Group, is speeding up its ambitious Yamuna Expressway project,
the company's executive chairman said on Saturday. The expressway will
be open for traffic from March 2011.

The company holds the consent from the Yamuna Expressway Authority
(YEA) to develop, operate and maintain Yamuna Expressway in Uttar
Pradesh connecting Noida to Agra.

While addressing mediapersons in the city about the company proposed
initial public offer (IPO), JIL executive chairman Manoj Gaur said,
"The concreting of the six-lane 165 kilometres expressway, which will
reduce the journey time between these two cities significantly, will
be completed by March 2011 even as its schedule is that of 2012."

The company that has got the rights for levying toll tax for 36 years
on the expressway apart from the right to approximately 6,175 acres of
land along the Yamuna Expressway at five locations for residential,
commercial, amusement, industrial and institutional purposes is eyeing
to generate Rs 1,650 crore through IPO.

"We have filed a draft red herring prospectus (DRHP) for the IPO of
equity shares of Rs 10 each for cash at price to be decided through a
100 per cent book-building process aggregating up to Rs 1,650 crore
and an offer for sale of 60,000,000 equity shares," added Gaur.



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