Economic Times

June 13,2002

Work on the road  component of the Bangalore- Mysore expressway project, being  executed  by the Nandi Infrastructure Corridor Enterprises (NICE), is expected to begin in a month. 

Talking to reporters after a high – level meeting  with  the Karnataka Chief Secretary, Dr. A. Ravindra, Principal Finance Secretary and Commissioner Chiranjeevi Singh, Karnataka Industrial Area Development

Board Managing Director Harish Gowda and Chief Minister’s Principal Secretary S.V. Ranganath. Nice Managing Director Ashok Kheny said the last hurdles in commencing work had been cleared with the Government agreeing to issue the  necessary comfort  letter’ sought  by the  financial institutions.

“We expect the consortium of financial institutions led by ICICI to release funds to the Rs 2,000 Crore     project upon  receipt  of the  comfort  letter  allaying  their  reservations over  various aspects  to facilitate  early  financial closure,” he said pointing out that the work will begin simultaneously from both ends.  

Mr. Kheny said the first phase of the 111-km expressway  project, which is expected to reduce the present three–hour travel time from the two cities to 1hour 15 minutes when completed, is targeted to be completed in 18 months.  He said Nice was all set to take up work even during monsoon when earthwork and construction of bridges and underpasses could be handled.

The first phase comprises of laying peripheral roads of 41 kms from Hosur  to Tumkur road and another 21 kms of link road from Bidadi to outer ring  road and other elevated  roads at a cost of Rs 1,000 Crore.  As many as 123 crossings and underpasses are being built in the first phase, with exit points at every 500mts stretch.  Nice is implementing the project on a 30- year lease period on BOOT basis.  Construction of five townships will be taken subsequently under the project.

Though the original target for completing the entire expressway project was ten years, Mr Kheny said Nice would strive to accomplish the task in strive to accomplish the task in seven years.  He said the four–lane expressway was being designed for expanding to six–lanes and also accommodate possible addition  of light rail system.  All earthwork and rock cuttings will be done during the first phase itself to ensure minimal disruption of service if two additional lanes and the light rail system were to be incorporated at a later stage, Mr. Kheny explained.