Bengaluru tunnel road project to be completed in 3 years: Karnataka Dy CM D K Shivakumar
D K Shivakumar, who is also the Bengaluru development minister, says a tender for the tunnel road between Hebbal and Silk Board Junction will be floated by February.
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Shivakumar, who is also the Bengaluru development minister, said a tender for the tunnel road project would be floated by February. (Photo: X/ @DKShivakumar)Even as it faces opposition from a section of Bengaluru residents, mobility experts, civic groups and BJP leaders such as P C Mohan and Tejasvi Surya, Karnataka Deputy Chief Minister D K Shivakumar said on Tuesday that his ambitious tunnel road project linking Hebbal and Silk Board Junction would be completed in three years.
Shivakumar, who is also the Bengaluru development minister, said a tender for the tunnel road project would be floated by February. “I have given them a deadline of three years to complete the project. The project will be taken up in two phases. The Government and the BBMP will release funds for this project. Many financial institutions have come forward to fund the project,” he said.
Asked about a letter by P C Mohan, a BJP MP, opposing the tunnel project, Shivakumar said, “The tunnel project is below the ground and doesn’t need any additional land.”
The Bruhat Bengaluru Mahanagara Palike has completed the detailed project report (DPR) work for the 16-km tunnel road. It has also recently floated a tender inviting DPR bids for a second tunnel, between KR Puram and Nayandahalli.
HDFC Bank, the Housing and Urban Development Corporation and the Power Finance Corporation have shown interest in funding a significant portion of the project. This will serve as viability gap funding to enhance the project’s commercial feasibility.
The BBMP is seeking Rs 8,000 crore in loans over the next five years to support the project. It has said the three financial institutions have proposed the Rs 8,000-crore loan with an annual interest rate of 9-10 per cent, offering a flexible repayment period. The civic body plans to generate the remaining funds through a private concessionaire or contractor.
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