Milan Developers and Builders has bagged the contract to develop the bus terminal at Angul on a 9.72 acre land.
The company will will spend Rs 56.31 crore to develop the terminal and it will pay a concession fee of Rs 7.50 crore to the government. Of the total amount, Rs 13.95 crore will be spent on the terminal and Rs 42.36 crore will be spent to create the commercial facility.
While the bus terminal will be use up 5.83 acre land, the commercial component will come up on the rest of 3.89 acre. Notably, the government had decided to develop 27 bus stands in phases in 2008. In the first phase, terminals at Cuttack, Dhenkanal, Angul and Sambalpur were to be developed but the project got delayed due to recession.