<p>Two global companies have shown interesting in constructing the long-delayed Peripheral Ring Road in Bengaluru under the Design, Build, Finance, Operate and Transfer (DBFOT) model. The state government is likely to decide on the matter soon. </p>.<p>The 65-km road, envisaged to link Tumakuru Road with Hosur Road, is estimated to cost Rs 21,000 crore, of which Rs 15,000 crore will be spent on land acquisition alone.</p>.<p>The government cannot take up the project given the high cost, Law Minister J C Madhuswamy told the Legislative Council on Thursday. </p>.<p>Under the model, the contractor will be allowed to operate the road and collect toll for 50 years. </p>.<p>Answering a question by MLC K A Thippeswamy, the minister said that the Bangalore Development Authority (BDA) was not in a position to implement the PRR. “The government is not in a position to spend Rs 21,000 crore on a single project,” he acknowledged. </p>.<p>According to the revised proposal, both land acquisition and road construction will be taken up by a private firm and, in return, it will be allowed to collect toll for 50 years, he said. </p>.<p>The government has estimated that constructing the PRR would require 1,810 acres of land. The land acquisition notification was issued in 2007. The BDA has submitted a proposal to acquire another 589 acres to integrate Tumakuru Road and Hosur Road with NICE Road, the toll plazas and other places. </p>.<p>According to the minister’s response, the PRR received approval from Forest, Ecology and Environment Department in 2014 but the clearance was stuck down by the National Green Tribunal as the proposal did not consider the approvals required for works near the Thippegondanahalli reservoir and forest lands. </p>.<p><strong>Check out latest videos from <i data-stringify-type="italic">DH</i>:</strong></p>
<p>Two global companies have shown interesting in constructing the long-delayed Peripheral Ring Road in Bengaluru under the Design, Build, Finance, Operate and Transfer (DBFOT) model. The state government is likely to decide on the matter soon. </p>.<p>The 65-km road, envisaged to link Tumakuru Road with Hosur Road, is estimated to cost Rs 21,000 crore, of which Rs 15,000 crore will be spent on land acquisition alone.</p>.<p>The government cannot take up the project given the high cost, Law Minister J C Madhuswamy told the Legislative Council on Thursday. </p>.<p>Under the model, the contractor will be allowed to operate the road and collect toll for 50 years. </p>.<p>Answering a question by MLC K A Thippeswamy, the minister said that the Bangalore Development Authority (BDA) was not in a position to implement the PRR. “The government is not in a position to spend Rs 21,000 crore on a single project,” he acknowledged. </p>.<p>According to the revised proposal, both land acquisition and road construction will be taken up by a private firm and, in return, it will be allowed to collect toll for 50 years, he said. </p>.<p>The government has estimated that constructing the PRR would require 1,810 acres of land. The land acquisition notification was issued in 2007. The BDA has submitted a proposal to acquire another 589 acres to integrate Tumakuru Road and Hosur Road with NICE Road, the toll plazas and other places. </p>.<p>According to the minister’s response, the PRR received approval from Forest, Ecology and Environment Department in 2014 but the clearance was stuck down by the National Green Tribunal as the proposal did not consider the approvals required for works near the Thippegondanahalli reservoir and forest lands. </p>.<p><strong>Check out latest videos from <i data-stringify-type="italic">DH</i>:</strong></p>
