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Bangalore-Mysore expressway project gets `green' signal

Madhumathi D.S.

BANGALORE, Aug. 13

THE Bangalore-Mysore Infrastructure Corridor Project promoted by the Kalyani group has received the environmental clearance from the Centre. The project was formalised with the State Government in February 1995.

With the last crucial hurdle crossed, the promoter consortium, Nandi Infrastructure Corridor Enterprises Ltd is now trying to see the financial closure of the BOOT project through, Mr Ashok Kheny, Managing Director of NICE, told Business Line.

``Everything has been lined up. (Lead financier) ICICI is doing the due diligence and is likely complete the process in a few weeks' time. We plan to begin work on Phase 1 this year,'' he said.

NICE, he said, hopes to complete the project in five years - or half the scheduled construction period. It will own and operate the project for 30 years subject to further extension. Phase 1 is estimated to cost Rs 1,000 crore and involve a construction time of about 30 months.

According to Mr Kheny, when completed, the fenced expressway will halve the travel time between Bangalore and Mysore to some 90 minutes.

The Rs 2,000-crore BMICP comprises a 111-km six-lane tolled expressway; a 41-km tolled outer peripheral road linking NH 4 and 7; and five self-sustaining townships between the two cities.

It is also the first to get off the mark among the slew of private-funded infrastructure initiatives that were conceived for the State along with the Bangalore international airport and the Bangalore elevated light rail transit system.

The project is being developed by the consortium formed by the Kalyani group, VHB International and the US-based SAB International.

Some 20,193 acres of identified land in Bangalore, Mandya and Mysore is being acquired for the company by the Karnataka Industrial Areas Development Board. Of this, 4,000 acres are for the expressway.

Bangalore's thriving IT brigade is actively interested in the corporate township proposed at Bidadi, 40 km from Bangalore.

A commercial centre at Bidadi, a heritage centre at Ramanagaram, an industrial centre at Channapatna, an eco-tourism township at Srirangapatna near Mysore.

The Centre's eco clearance comes just within a year after the State Pollution Control Board gave its NOC. A 400-MW power plant which is part of the project will need a specific eco clearance.

A major tax relief package in the form of an amendment to the Karnataka Town & Country Planning Act, 1961, is pending before the State Government.