The Peripheral Ring Road (PRR) project, which was pegged at Rs 500 crore in 1986 , will now cost Rs 12,000 crore to execute. The delay and exponential growth of the city has converted it into an Outer Ring Road making the project execution a herculean task.
But thanks to the honest efforts of the committee members headed by Chief Secretary Arvind Jadhav, the project has now got a vision and a Special Purpose Vehicle (SPV) will be set up to execute it. But the SPV and the government must ensure that the project is completed on schedule.
The revenue models suggested are necessary for its completion and for repaying the loans taken for it. The PRR will be an economic value corridor for the state as the 25 meters adjoining it could become a major economic zone and can be cashed in on.
Presently, the city is choked with traffic, creating a suffocating environment for its people. Trucks, one of the major drivers of its growth, are not allowed to enter it during the day.
The PRR will not only decongest the city to a great extent but will also divert these goods carriers away from it, besides earning good revenue for the government. Also, once it is developed on either side, the PRR can be showcased to attract global investors.
