[sustran] Karnataka to woo investors with Rs 18K crore elevated road plan

[Vinay Baindur]

not NUTP compliant!



http://realty.economictimes.indiatimes.com/news/infrastructure/karnataka-to-woo-investors-with-rs-18k-crore-elevated-road-plan/49578587



Karnataka to woo investors with Rs 18K crore elevated road planChief
Minister Siddaramaiah is said to be keen on the project which is expected
to significantly decongest traffic in the city.ET Bureau  |  29 October
2015, 1:00 PM IST
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BENGALURU: An ambitious elevated corridor project that promises a 45-minute
commute from one end to the other of the city will be showcased as a major
investment opportunity in the state at the government's flagship event
Invest Karnataka. The event is planned for February 2016.

Chief Minister Siddaramaiah is said to be keen on the project which is
expected to significantly decongest traffic in the city. "The CM has
accepted this proposal. He told me that a detailed project report is being
prepared. The project will require very less land acquisition and can be
finished in 2-3 years," said Biocon chief Kiran Mazumdar-Shaw, who is also
on the board of the Centre for Smart Cities that mooted this project. She
was speaking at the Bengaluru Rising event jointly organised by BPAC and
BBMP earlier this week.

The 75-km north-south-east-west corridor is estimated to cost Rs 18,400
crore, according to a pre-feasibility study done last year.

The project will connect Central Silk Board to Hebbal (North-South
corridor), KR Puram to Gorgunte palya (East-West corridor-1) and
Jnanabharathi to Varthur Kodi (East-West corridor-2) with six-lane elevated
roads.

These corridors will also have three connecting corridors.

The state-run Karnataka Road Development Corporation (KRDC) has been tasked
with the job of preparing a detailed project report, which alone will cost
Rs 20 crore.

"This project will be one of the major investment projects to be showcased
in Invest Karnataka," said RK Misra, founder-director of the Centre for
Smart Cities and a member of the 17-member vision group on industry, which
also comprises Wipro chairman Azim Premji. "We are targeting investors from
China, Japan and the Middle East, and we are already in talks with them
about this opportunity ," Misra said.

Manipal Global Education Services chairperson TV Mohandas Pai lauded the
project: "It takes three hours to get from one end of the city to the
other. This project will bring it down to 45 minutes."

When asked if the projected Rs 18,400-crore cost also includes land
acquisition, Municipal Commissioner G Kumar Naik said: "We don't know yet
because the final detailed project report is still in the works."