Promising to give impetus to the city infrastructure, the 162 km futuristic and access controlled eight-lane Outer Ring Road Project is firmly on the right track what with the latest confirmation that the Japanese Bank for International Cooperation would extend Rs.2,700 crore loan for the final phase of the project.
Project Director Piyush Kumar said that, they have not only secured funding for the entire 162 km project but are also in a position to contribute to Government
Work on the 24 km first phase from Gachibowli to Shamshabad has already commenced with funds raised by the HUDA and international bids have been invited for funding the Rs.1,730 crores second phase II A. Now, with the Central Government clearing the JBIC loan for the Rs.2,700 second phase II B, the ORR despite dogged by protests from political parties and land losers, the ORR is set to take off. As the Project Director of ORR project, involved right from the designing of the project, Mr.Piyush Kumar is apparently a happy man."The ORR is a massive urban infrastructure project, biggest in the State. It is also diametrically different from the way it had been planned contrary to the usual planning in urban scenario," Mr. Piyush Kumar said.
The potential value of business, commerce and real estate growth, what Outer ring road could generate would be close to one lakh crores.
With the objective of catapulting Hyderabad into a favourite investment destination for all the major sectors across the world, the ORR and its growth corridor was conceived as a world-class infrastructure project. If a National Highway would cost Rs.10 crore to 11 crore per km, the cost of ORR is Rs.29 crore to Rs.30 crore per km, projects because of its many advanced features like clover leaf junctions and futuristic plans to meet the requirements for the next 40 to 50 years.If the International Airport at Shamshabad led to development of thousands of acres in the vicinity with investors coming to Hyderabad for setting up projects 40 km to 50 km away from city, ORR would further improve the connectivity all around the city without adding to the congestion and leading to fast track growth. After the Bangalore and Pune experience, the city thanks to its major infrastructure projects, has clear advantage to emerge as investment destination.
In terms of money, if the ORR project would cost close to Rs.5,500 crore including the liberal Rs.1,250 crore relief and rehabilitation package extended to the land losers, the potential value of business, commerce and real estate growth, what the project could generate would be close to one lakh crores. The actual investment compared to the potential returns to the city in terms of economic development is small.
"We did not know from where the funds would come while the Government gave a mandate for design, implementation and generating revenue from the project. But today we have not only secured funding for the entire 162 km project but are also in a position to contribute to Government," Mr.Kumar said.
The ORR when ready would change the face of Hyderabad making it a truly international city and giving it a clear edge in attracting investment and boost its economic growth beyond one''s imagination, says Piyush Kumar, Project Director.
Well with the funding tied up, work on ORR second phase would begin faster than expected. While for 62 km Phase II A which was notified recently for international competitive bidding was getting good response and work is expected to commence in June/July this year, the work on Phase II B would begin by December with JBIC assistance.
Source: Melly Maitreyi, The Hindu
