New Delhi: The country's largest real estate firm DLF on Thursday said it along with its partner Haryana Urban Development Authority (HUDA) will invest Rs 550 crore to develop a road in Gurgaon under a public-private partnership mode.

The company has commenced the construction work of the 16-lane 8.3 kilometre road, connecting NH-8 toll plaza with the sectors 55 and 56 in Gurgaon.

"The total investment in the project will be Rs 550 crore. Out of this, HUDA will invest Rs 220 crore, while the rest will be put in by us," a DLF spokesperson said.

The company has awarded the development contract to IL&FS Engineering and Construction Company for Rs 400 crore. IL&FS will construct a major portion of the road, he added.

"The completion time of the project is three years, but we will try to complete it within two years," the spokesperson said.

The road will be fully integrated with the upcoming Rapid Metro system and is proposed to cater to the future Rapid Metro line from Sikanderpur to end of Sector Road.

"This corridor will also be signal free providing free movement for commuters on either side and will feature six underpasses that will not only reduce noise pollution but will also prevent public inconvenience," the company said.

The spokesperson said providing optimum traffic solution is a challenge, which is based on present and projected future traffic demand.

"By reducing the travel time drastically, this initiative will provide 1.5 million residents and commuters from outside Gurgaon, who work in Gurgaon offices, a hassle free commute to their destination," said the official.

DLF, which is credited to have established almost the entire Gurgaon -- one of the first MNC hubs of the country, has already set up its own fire brigade for its projects in Gurgaon. It will set up such stations in two more locations, including Chennai, making it probably the first private company to dabble into such activities.

The company has procured the three hydraulic platforms -- two 90 metres and one 60 metres height -- from Finland.


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