<p>Uttar Pradesh government on decided to fund Lucknow-Agra expressway through the state budget under the Engineering Procurement Contract model after it failed to garner investors for Chief Minister Akhilesh Yadav’s dream project.<br /><br /></p>.<p>“As no bidders have turned up for the project under the PPP model, it has been decided by the cabinet to go ahead with the EPC model under which state used to fund the project,” Chief Secretary Javed Usmani said.<br /><br />Govt funding<br /><br />A decision in this regard was taken at a meeting chaired by the chief minister. Due to economic slowdown no bidders turned up for the project after which it has been decided that the UP Industrial Development Authority (UPIDA) would develop it and the project would be funded through the state budget, he said.<br /><br />The 301-km long expressway from Lucknow to Agra is likely to cost Rs 8,944 crore.More time<br /><br />In the EPC model, an important clause has been amended and now the defect liability period (expenses to be borne by the developer) would be of five years instead of two years, Usmani said.<br /><br />The cabinet also awarded an IT-city project in 100 acres of land in the state capital to Vama Sundari Investments of HCL group.<br /><br />“Only HCL group had bid for this project for which investment of Rs 1,500 crore will be needed. After completion it will provide job opportunities to 25,000 persons,” he said.<br /><br />Optimal use<br /><br />The cabinet also gave its nod for constitution of UP Water Management and Regulatory Commission for optimal use of water resources, he said.<br /><br />A decision to make eco-sensitive zones in 100-metre area of Kaimur Wild Life Sanctuary in Mirzapur, Okhla Wild Life Sanctuary in Gautam Buddha Nagar and Lakhbahosi Wild Life Sanctuary was also taken.</p>
<p>Uttar Pradesh government on decided to fund Lucknow-Agra expressway through the state budget under the Engineering Procurement Contract model after it failed to garner investors for Chief Minister Akhilesh Yadav’s dream project.<br /><br /></p>.<p>“As no bidders have turned up for the project under the PPP model, it has been decided by the cabinet to go ahead with the EPC model under which state used to fund the project,” Chief Secretary Javed Usmani said.<br /><br />Govt funding<br /><br />A decision in this regard was taken at a meeting chaired by the chief minister. Due to economic slowdown no bidders turned up for the project after which it has been decided that the UP Industrial Development Authority (UPIDA) would develop it and the project would be funded through the state budget, he said.<br /><br />The 301-km long expressway from Lucknow to Agra is likely to cost Rs 8,944 crore.More time<br /><br />In the EPC model, an important clause has been amended and now the defect liability period (expenses to be borne by the developer) would be of five years instead of two years, Usmani said.<br /><br />The cabinet also awarded an IT-city project in 100 acres of land in the state capital to Vama Sundari Investments of HCL group.<br /><br />“Only HCL group had bid for this project for which investment of Rs 1,500 crore will be needed. After completion it will provide job opportunities to 25,000 persons,” he said.<br /><br />Optimal use<br /><br />The cabinet also gave its nod for constitution of UP Water Management and Regulatory Commission for optimal use of water resources, he said.<br /><br />A decision to make eco-sensitive zones in 100-metre area of Kaimur Wild Life Sanctuary in Mirzapur, Okhla Wild Life Sanctuary in Gautam Buddha Nagar and Lakhbahosi Wild Life Sanctuary was also taken.</p>