BENGALURU: The Peripheral Ring Road (PRR) project, which is aimed at ensuring seamless connectivity, is set to take a new approach for funding, as the Bangalore Development Authority (BDA) has decided to go in for global tendering. The move to award it to an Israeli infrastructure and funding agency after going in for a Swiss Challenge method of tendering has now been shelved. Chief Minister B S Yediyurappa too had spoken about the interest shown by the Israeli firm in the project in February.
A highly-placed BDA source said that they had to change their original plan after a Cyprus-based firm, IOTC Group, approached the government and conveyed its interest in funding the Rs 21, 250 crore project. “The BDA approved the move to go in for a global tender during its recent meeting and is now awaiting government approval. Tenders will be called for soon,” a top source said. The 73-km project with eight lanes and four service lanes was to be awarded to Israel’s Symba Maz after a Swiss Challenge method of tendering was called.
A deadline of three years (August 2024) also was to be fixed for the same. Specifying details, another source said, “Since only one firm was initially ready, we thought of going in for the Swiss method, wherein, if any other bidder can come up with a lower quote, they would get the project. However, now that we have more than one person vying for the project, tender rules mandate that we need to go in for a global tender.” Symba Maz had conveyed its expression of interest through the Bengaluru-based joint venture, APIC Freeway Pvt Ltd, along with construction firms AFCONS and STUPS Ltd. “The firm was sure that no one would be able to come up with a lower bid and had asked the BDA to go in for the Swiss Challenge method,” the source explained.