Peripheral Ring Road
Credit: DH Photo
Bengaluru: The 73-km Peripheral Ring Road (PRR), which was in cold storage for nearly two decades, has finally found a funder.
Housing and Urban Development Corporation (HUDCO), a union government PSU, will be the primary funder of the Rs 27,000-crore project, while some other agencies will provide the required loans.
"Funding has been tied up. We hope to start the tendering for the eight-lane Peripheral Ring Road with a service lane and metro rail in less than six months," said LK Atheeq, Additional Chief Secretary, who heads the Bengaluru Business Corridor Ltd, a special purpose vehicle (SPV) entrusted with building the road.
The SPV held its second meeting on Monday. "We have kick-started finalisation of awards to pay the landowners of the 2,400 acres. We are also having discussions with Namma Metro, the National Highways Authorities of India (NHAI), and other agencies on design and interchanges," Atheeq said.