After a number of delays, Bengaluru’s much-anticipated Peripheral Ring Highway mission is on the cusp of being realised because the Karnataka authorities has sought loans from public sector undertakings (PSU).
The 73-km street across the metropolis, renamed Bengaluru Enterprise Hall in January, is anticipated to price Rs 27,000 crore, which incorporates building and land acquisition prices.
L Ok Atheeq, Further Chief Secretary (Finance), advised The Indian Specific that the Authorities has approached the Housing and City Growth Company, Rural Power Company, and the Energy Finance Company for loans to fund the mission. “Whoever provides higher rates of interest, we are going to go together with them,” he mentioned.
Atheeq—who heads Bengaluru Enterprise Hall Ltd, a particular goal automobile shaped for the mission’s implementation—held a gathering on the difficulty on Monday. In a publish on X on Tuesday, he wrote that the Authorities expects to drift tenders for the eight-lane street, a service line, and a metro rail monitor inside the subsequent six months.
“We’ve got kick-started the finalisation of awards to pay the landowners for the two,400 acres required for the 73-km PRR,” he mentioned, including that the particular goal automobile mentioned design and interchanges with Bengaluru Metro, the Nationwide Freeway Authority of India, and different businesses.
Proposed in 2006, the mission has confronted a number of delays as a result of disputes over compensation for the acquired land. A young floated in July 2022 discovered no bidders for it.
