The first phase of the Rs.103.5 crore Moradabad bypass project was dedicated to the nation on 20 June 2001, at the hands of the Minister of State for Roads & Highways, Major General (Retd.) B C Khanduri. The bypass connects Moradabad to the National Highway No.24.

The entire bypass, measuring 18.4 km, is expected to be completed by October 2001, that is, thirty months from zero date.

The project is being implemented by a special purpose vehicle – Moradabad Toll Road Company Ltd (MTRC) – which would construct, maintain and operate the bypass for thirty years. The equity capital of MTRC is Rs.31.05 crore, of which National Highways Authority of India (NHAI) holds 85 per cent. The remainder is held by Uttar Pradesh State Bridge Corporation Ltd, which is also the EPC contractor to the project.

The project is being part-funded by a Rs.40 crore loan by Infrastructure Development Finance Corporation Ltd.

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