NHAI agrees to provide financial assistance to JDA for Jaipur Ring Road project

The National Highways Authority of India (NHAI) has agreed to provide financial assistance to the Jaipur Development Authority (JDA) for the acquisition of 26 hectares of land for the Jaipur ring road project. The land will be used for constructing clover leaves and flyovers. NHAI has approved an advance amount of Rs 2 billion. JDA will now sign a supplementary MoU with NHAI, in which the revised net present value will be mentioned after deducting the advance amount. The amount provided by NHAI will be deducted from the Rs 3.5 billion which is proposed to be given to JDA in 10 years from the time toll is levied. As per the agreement, NHAI will provide Rs 350 million to JDA every year, along with 8 per cent interest to the authority.