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Omaxe to develop two bus terminal projects worth Rs 385 cr in UP

Tuesday, 20 Feb 2024
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Real estate firm Omaxe will develop two bus terminal projects, one at Amausi in Lucknow, and the other at Ayodhya Dham in Uttar Pradesh at an estimated construction cost of Rs 385 crore.

The company, had participated in the bid, as lead member of the consortium and declared as a successful bidder by Uttar Pradesh State Road Transport Corporation (UPSRTC) on 16 February, 2024 for the project.

The bus terminals will be constructed at Amausi, Lucknow on land area of 20,170 sq. mtrs. and the other at Ayodhya Dham on land area 36,426 sq. mtrs. These bus terminals will be developed under design, build, finance, operate and transfer (DBFOT) model on PPP basis. The letter of intents (LOIs) will be issued by UPSRTC to Omaxe in due course of time.

Be Together Developers and Radhika Buildwellare the two member companies of the consortium being led by Omaxe. The estimated construction cost for the Amausi Lucknow project is expected to be approx. Rs 160 crore and for the Ayodhya Dham project is nearly Rs 225 crore.

Under the terms and conditions, the concessionaire, inter-alia, will construct, operate and maintain the commercial complex and bus terminal commercial assets for a period of 90 years and bus terminal project facilities for a period of 35 years from the appointed date.

 
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