North-South Tunnel Road: BBMP proposes ?8,000 cr loan

NT Correspondent

Bengaluru: The Bengaluru Bruhat Mahanagara Palike (BBMP) has proposed to borrow ?8,000 crore to fund the ?14,981 crore North-South Tunnel Road project. This project, which will construct twin tunnels with a 120-feet depth, aims to reduce traffic congestion between Hebbal and Silkboard.The project will be executed under a public-private partnership (PPP) model, with BBMP and the private contractor sharing the costs in a 60:40 ratio. The construction cost per kilometer is ?898 crore, significantly higher than the initial estimate of ?500 crore.To finance this project, BBMP is seeking loans from nationalized banks and financial institutions, with bids set to open on January 8.

The plan is to select institutions offering the lowest interest rates for the loan.The project is expected to save commuters around 70 minutes of travel time, as the 16.67 km stretch, which currently takes 90 minutes, will be covered in just 20 minutes once the tunnel is completed. The toll fees, expected to range between ?18-?24 per km, will be collected for 20 years before the road is handed over to BBMP.Additionally, five entry and exit points will be constructed along the tunnel route, including locations at Hebbal, Racecourse, and Lalbagh, providing easy access for vehicles.

Key Details:

•Project Cost: ?14,981.39 crore

• BBMP Loan Proposal: ?8,000 crore

• Estimated Completion: 20-minute travel time between Hebbal and Silkboard

• Toll Fee: ?18-?24 per km • Total Length: 16.67 km