High Roads

Officials say a breakthrough in discussions with the Board of Infrastructure Investment (BII) is imminent, with the deal being finalised as early next week. rn

rnWork on the highway began on a design and build basis two years ago by a Korean based construction company Keangnam, on a Treasury allocation of little over Rs. 10 bn. rn

rnA 36-month construction plan was drawn up, with the company taking over operation for a period of one year before the state handed operation and maintenance over to the private sector. rn

rnBut a cash-strapped government is trying to fast track that process, with tenders called for recently for a private sector company to finance and take over management of the highway, eventually running it as a toll road, sources said. rn

rnWhether Keangnam would continue construction on the expressway or the terms of a settlement that would have to be negotiated between the two parties, could not be confirmed. rn

rnThe highway is part of a network of expressways being developed t