After much dillydallying, the much awaited Peripheral Ring Road (PRR) got cabinet nod on Wednesday for construction and collecting toll.
Briefing reporters after the Cabinet meeting, Law and Parliamentary Affairs Minister J C Madhuswamy said that the cabinet accorded administrative approval for floating tenders to commission work on building 69 kms of road.
The proposed PRR project which is pending for over 16 years will connect Tumakuru Road with Hosur Road. Once the project is completed it provides seamless movement of traffic along the proposed road.
However, the state cabinet has decided to allow the developer to collect toll for 50 years.
The prospective bidder would have to fund for and-acquisition cost, which is estimated to be over ₹5,000 crore and also take up construction of the road. In this backgroumd, the bidder would be allowed to collect toll for 50 years, Mr. Madhuswamy said.
Last year, the Bangalore Development Authority (BDA) board meeting approved to go for global tenders. It also unveiled its plan to create supporting infrastructure.