Hey Pune folks, exciting news on the infrastructure front! The Ring Road project is all set to kick off in a big way, with plans to construct it under the DBFOT model. A Special Purpose Vehicle will be established to oversee this project, with toll collection managed by the NHAI for a whopping forty years post-completion.
Rahul Giribuwa, the Additional Secretary of the Public Works Department in Maharashtra, has given the green light for the formation of ‘MSRDC Pune Ring Road Limited’ to handle the eastern and western sections of the Ring Road. But here’s the catch – contractors will only get the go-ahead once 90% of land acquisition is complete.
While toll booths in Mumbai are being shut down, the Ring Road will still have tolls in place. The project will be divided into two sections – East and West – and tenders for intermediate road works have already been issued. However, there seems to be a bit of a snag with the bids exceeding initial estimates.
The estimated cost for the Ring Road has seen a significant hike, with the Ministry of Finance expressing concerns and suggesting a reissue of tenders. Despite this, the Maharashtra Government has given the green signal for the project to proceed at the increased rates.
With the projected expenditure now almost doubling from Rs 20,335 crore to Rs 42,711 crore, it looks like the public might have to bear the brunt of these increased costs through toll collections. Stay tuned for more updates on this massive infrastructure project!
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