MSRDC firm to execute fly-overs plan

The MSRDC had already completed a financial feasibility study with the help of CRISIL. According to the report, MSRDC would require Rs 356 crore. This amount would be raised from financial institutions and banks. MSRDC would be in a position to repay the loan amount within a few years after completion of the project. Four toll nakas at the exit points of Pune and Pimpri-Chinchwad would rake in the funds, they added. In the first year, the income was expected to be Rs 70 crore shooting up to Rs 130 crore in the next five years.

Cars and jeeps would have to pay Rs 15 while heavy vehicles would have to,pay Rs 30 as toll.

While the PCMC standing committee had already rejected the proposal, the PMC is yet to take a final decision. MSRDC had demanded Rs 111 crore from PCMC for constructing four flyovers — Khandoba mandir, Chinchwad, Pimpri and Nashik phata. MSRDC had proposed that it would return the entire amount within five years. However, the standing committee rejected the proposal.

The MSRDC does not require the PCMC’s technical permission to construct the flyovers since the road passing through the industrial town belongs to the Public Works Department.

The MSRDC would try to convince both the Pune and Pimpri-Chinchwad municipal corporations about utility of the project. The sources said the MSRDC was even prepared to start work if the PMC was prepared to share 25 per cent of the expenses for flyovers. They said MSRDC would go ahead with the constructing the flyovers if the PMC refute to share the expenses.

The MSRDC officials fear that the delay in getting approval of both the municipal corporations would prove expensive because of price escalation. They point out that MSRDC called a meeting on the issue in July where the proposal was principally accepted by all the officials. The MSRDC subsequently rushed the official proposals to both the municipal corporations in the same month. They lament that both the corporations had not taken final decision in the past four months.

The sources said the MSRDC was planning to raise the funds for the construction of easterly by-pass, which is yet to be completed because of lack of funds. The officials fear that completion of easterly by-pass would be further delayed for an uncertain period if both the corporations do extend the cooperation.