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| K'taka plans Rs 22,000 cr project for Bangalore development |
| BS Reporter / Chennai/ Bangalore Sep 07, 2009, 00:40 IST |
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Karnataka government has drawn up a blueprint for the overall development of Bangalore city with a massive financial outlay of Rs 22,000 crore. The development works will be carried out through Bruhat Bangalore Mahanagara Palike (BBMP). The move is aimed at drastically changing the face of the city with improved roads, drains and lakes in the next three years.
State minister for transport, R Ashok, who presented the proposal under the Capital Investment Plan for Bangalore (2009-12) said though the cost involved for the works is huge, it can be mobilised by the BBMP with contributions from the state government, the Bangalore Development Authority (BDA) and funds from Jawaharlal Nehru National Urban Renewal Mission (JNNURM) and other loans. Most of these works will be undertaken under the public private partnership (PPP) model, he said.
“We are undertaking these works as part of “Our Bangalore - Our goal and vision” project. The project intends to ease congestion on city’s roads, improve traffic management, avoid water logging at low lying areas, and establish market complexes at the newly included areas into the BBMP limits,” Ashok told reporters.
The works proposed under the plan includes 12 major signal-free corridors, three elevated corridors, strengthening of arterial and sub-arterial roads, construction of 40 railway over- and underbridges, elevated roads built over stormwater drains, remodeling of drains and rejuvenation of city’s lakes.
Ashok said with the BBMP setting aside Rs 5,700 crore, the government is aiming to raise Rs 8,300 crore through bonds and loans obtained by the government guarantee. The BDA will contribute another Rs 2,000 crore and the remaining Rs 2,000 crore will be raised through the PPP model.
BBMP Commissioner Bharat Lal Meena said the Housing and Urban Development Corporation Limited (HUDCO) and a few consortia have come forward to extend financial assistance for some projects.
During the first year, the BBMP will require around Rs 3,000 crore to Rs 5,000 crore. The entire proposal would be presented before the chief minister on his return from China, Ashok said. “We are hoping to complete all the projects in tandem with the completion of Bangalore Metro Rail,” he said.
On the repayment of the loans, Ashok said the profits earned by the BBMP and the tax collected from the TMCs and CMCs would be sufficient.
To make 12 key corridors signal-free, the plan is to equip over 100 junctions with grade separators. The total road length covered under this project will be 122 km, a network connecting the Central Business District (CBD) with Outer Ring Road and Radial Roads.
The BBMP has identified close to 500 kilometres of roads in the new zones for widening, strengthening and asphalting. Another important proposal is the construction of three elevated corridors, in the city’s north, south and east to decongest traffic.
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