<p>Bengaluru: Deputy Chief Minister D K Shivakumar on Monday announced that the state government would fund only 40% of the Bengaluru tunnel road project’s estimated cost, regardless of the bid amount. </p><p>“The project will be executed under the build, operate and transfer (BOT) model, with the private agency required to invest whatever is necessary. The government will fund only 40% of the estimated cost, which is about Rs 1,200 crore per km. We will not pay anything more,” he said at a press conference. </p><p>He declined to give details, saying he is yet to see the documents regarding the bids submitted for the project. </p><p>Shivakumar made the comments in response to a question about the impact of the high bid amounts quoted by the Adani Group for both packages of the 16.75-km Silk Board Junction-Hebbal underground road. </p><p>The ports-to-power conglomerate quoted about 24% higher for the first package and 28% higher for the second. </p>. Adani Group lowest bidder for both packages of Bengaluru tunnel road project.<p>The government estimated the entire project to cost Rs 17,698 crore, while the Adani Group has quoted Rs 22,267 crore.</p>.<p>The conglomerate quoted Rs 10,867 cr for the Hebbal-Seshadri Road package compared to the government estimate of Rs 8,770 crore. Similarly, it quoted Rs 11,400 cr for the Seshadri Road-Madiwala package, against the government estimate of Rs 8,928 crore. </p>.<p>DH was the first to report the development. Four infrastructure companies had participated in the tenders for the project. Two were disqualified during the technical stage. </p>.<p>Forty per cent of the funding will come from the government, while 60% will be raised by the private concessionaire. The tender conditions allow toll collection rights for 30 years, extendable by another 10, along with six acres of land for commercial development.</p>
<p>Bengaluru: Deputy Chief Minister D K Shivakumar on Monday announced that the state government would fund only 40% of the Bengaluru tunnel road project’s estimated cost, regardless of the bid amount. </p><p>“The project will be executed under the build, operate and transfer (BOT) model, with the private agency required to invest whatever is necessary. The government will fund only 40% of the estimated cost, which is about Rs 1,200 crore per km. We will not pay anything more,” he said at a press conference. </p><p>He declined to give details, saying he is yet to see the documents regarding the bids submitted for the project. </p><p>Shivakumar made the comments in response to a question about the impact of the high bid amounts quoted by the Adani Group for both packages of the 16.75-km Silk Board Junction-Hebbal underground road. </p><p>The ports-to-power conglomerate quoted about 24% higher for the first package and 28% higher for the second. </p>. Adani Group lowest bidder for both packages of Bengaluru tunnel road project.<p>The government estimated the entire project to cost Rs 17,698 crore, while the Adani Group has quoted Rs 22,267 crore.</p>.<p>The conglomerate quoted Rs 10,867 cr for the Hebbal-Seshadri Road package compared to the government estimate of Rs 8,770 crore. Similarly, it quoted Rs 11,400 cr for the Seshadri Road-Madiwala package, against the government estimate of Rs 8,928 crore. </p>.<p>DH was the first to report the development. Four infrastructure companies had participated in the tenders for the project. Two were disqualified during the technical stage. </p>.<p>Forty per cent of the funding will come from the government, while 60% will be raised by the private concessionaire. The tender conditions allow toll collection rights for 30 years, extendable by another 10, along with six acres of land for commercial development.</p>
