A key agreement for the installation of the FASTag along the Yamuna Expressway was signed on Monday, officials said, adding the electronic toll collection system is expected shortly on the privately-managed highway. The 165-km-long expressway that connects Noida and Agra is managed by Jaypee Infratech Limited (JIL) and has three toll plazas – Jewar, Mathura and Agra – on the route, the officials said.
There will be four FASTag lanes, two on either side of these three toll plazas, they said. A tripartite agreement was signed on Monday between the JIL, the Yamuna Expressway Industrial Development Authority (YEIDA) and the IDBI bank, according to the officials.
“The IDBI shall be the acquiring bank and shall manage toll collection and related processes for the toll plazas of the projects for a period of seven years,” a YEIDA official said.
“The JIL shall obtain all necessary permissions from the National Highway Authority of India, the YEIDA and other agencies concerned as required for appointing an acquirer bank of FASTag transactions at the toll plazas,” the official said.
Insolvency Resolution Profession (IRP) for JIL Anuj Jain said, “The agreement was signed today and the FASTag is expected to begin shortly on the Yamuna Expressway. It could start in April.”
Jain also said that work is underway for the installation of crash barriers along the Yamuna Expressway, which has witnessed thousands of road crashes and hundreds of fatalities over the years.
“The process for the installation of crash barriers is a long one and might take some time since it is a 165-km-long stretch. But yes, the work is underway for it,” Jain added.
(With PTI inputs)
Latest India News
