The state government will take up the laying of approximately 100 km of peripheral ring road at a cost of Rs 3,500-4,000 crore as part of the Chennai-Bangalore Industrial Corridor (CBIC) project.
The upcoming mega infrastructure project is expected to boost commerce between South India and East Asia through quicker movement of goods to Chennai and Ennore Ports. The corridor will come up along Chennai, Sriperumbudur, Ranipet, Chittoor, Bangarupalen, Palamanner, Bangarpet, Hoskote and Bangalore.
The Department of Industrial Policy and Promotion (DIPP) and the Japan International Cooperation Agency (JICA) are currently preparing a comprehensive plan for the project, while JICA is also providing financial assistance.
Advisor to the Prime Minister, T K A Nair, on Wednesday reviewed the project along with representatives from JICA and senior officials of Karnataka and Civil Aviation Ministry. Nair also saw a power point presentation on the project.
Among those who attended the meeting include K N Srivatsava, joint secretary, Civil Aviation Ministry and Karnataka Chief Secretary Koushik Mukherjee.
Mukherjee told Express that the proposed ring road, which would touch Dodballapur, Magadi and Devanahalli, is necessary to ease traffic. The half completed road developed by NICE would be completed by the state government at a cost of Rs 3,500 crore.
“Most of the money would go for land acquisition. Since JICA is funding the project, there will not be much burden on the state,” he added.
He said Bangalore is a junction as both National Highway 4 between Chennai and Mumbai and National Highway 7 between Varanasi and Kanyakumari passes via this city.
The project was taken up on priority in view of big growth in the movement of goods in the next 5-10 years. He said the project would benefit not only Karnataka but also Andhra Pradesh and Tamil Nadu. According to sources, the pre-feasibility report of the project was completed during February this year. The project is being personally monitored by the PM’s advisor Nair.