The State Government has decided to approach construction companies in Dubai for MoUs for the construction of elevated corridors and ring roads in the City, in the wake of funds crunch. The government is ready to hold talks with the Dubai-based construction companies in this regard. However, the specific details are yet to be worked out. Sources at the Urban Development Department said that a meeting will be held at Dubai with construction companies offering a PPP model project implementation, based on toll collection revenue, reported Kannada Prabha.
The estimated investment for peripheral Ring Roads is Rs 12,000 crores and for Elevated Corridor Rs 18,000 crores. The Centre is willing to fund the peripheral ring road project. However, the State government’s part of the investment is over Rs 15,000 crore. Hence the PPP model has been envisaged by the State.
The State is proposing to set up a Special Purpose Vehicle (SPV) for construction of a peripheral ring road connecting Tumakuru Road and Hosuru Road. Another elevated corridor of 82.7 km is also proposed to ease traffic congestion of the incoming vehicles. A Design for Reliability (DFR) report has also been prepared by an US company AECom Engineering. However, financial crunch is constraining the government, pushing the State to approach private firms for funds.
Peripheral Ring Road:
Four-lane connecting corridor: