The city of Bengaluru will get a 40-km tunnel road soon and the traffic jams will be reduced. The Detailed Project Report (DPR) has been made ready by the BBMP about the tunnel road.
Bengaluru to get 40-km tunnel road: Check route
Of the entire 40 km-long tunnel roads, an 18 km-long north-south corridor will link Hebbal flyover in the north and Silk Board junction in the south and a 22 km-long east-west corridor will connect K R Puram in the east to Mysore Road in the west.
Apart from this, the feasibility study conducted by a consultant stated that a single-tube tunnel would cost less than a twin-tube tunnel.
BBMP to raise loan of Rs19,000 crore
In this regard, the Bruhat Bengaluru Mahanagara Palike (BBMP) is planning to raise a loan of Rs19,000 crore from the open market to build the 40 km-long twin-tube tunnel roads in the city.
The move from the BBMP comes after the government recently approved a similar sovereign guarantee for a loan of Rs27,000 crore from the Housing and Urban Development Corporation Limited (HUDCO) for the implementation of the 73 km-long Peripheral Ring Road (PRR).
For the tunnel road, the state government said it will stand as guarantor for a whopping Rs 19,000-cr loan. If the BBMP succeeds in implementing the project using private investment, a portion of the sanctioned loan would be used to fund a separate underground road between KR Puram and Nayandahalli, officials said.
The development comes after the BBMP said it has completed the detailed project report (DPR) for the Silk Board-Hebbal section, which has been criticised by some activists who have raised concerns about the environmental and hydrological implications for the city.
Know all about tunnel road project
The BBMP said there will be two stretches of underground roads -- one is North-South corridor, being planned between Esteem Mall junction in Hebbal and KSRP premises in Silk Board, will be taken up in the first phase.
The first project will to cost Rs 16,500 crore, excluding land acquisition. Of this, the BBMP hopes to provide Rs 6,500 crore as viability gap funding (VGF) while it expects private players to provide the rest.
The BBMP in the second phase has proposed to take up a 28-km underground road between KR Puram and Nayandahalli. The project is tentatively estimated to cost Rs 25,000 crore as the civic body is yet to start the work of preparing a DPR.
