Govt. clears funds for Rs.13,315 cr road venture

    ring road project
    The Union Transport ministry has recently approved Rs.1,500 crore for the ring road project entailing a total investment of Rs.13,315 crore and that the project is to be executed by the Pune Metropolitan Regional Development Authority (PMRDA). Shortly after the clearance, the PMRDA has floated a tender for the project, which is expected to start very shortly, chief executive officer, PMRDA, Kiran Gitte said. The funding for the project in question will flow from the National Highway Authority and that a 31 km stretch has been proposed in the first phase between Satara road to Ahmednagar road. The stretch has three tunnels and railway line over bridges. The PMRDA would take necessary permissions for these tunnels and there would be no environment impact. The total length of the road is 128 km and for the remaining portion of the funds, the PMRDA is planning to take loans from global financing agencies including Asian Development Bank, Japan International Cooperation Agency, among others.
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