Bangalore, Jan 1 (UNI) The World Bank would sanction a loan of over 250 to 270 million US Dollar for the development of Highways in Karnataka, Governor Rameshwar Thakur said.
Talking to newspersons here today, after presiding over the State Executive meeting here, he said the Government had decided to avail the loan to take up the Karnataka State Highway Improvement Project (KSHIP) Phase-II.
Mr Thakur said under KSHIP phase-II, over 3400 kilometers of State Highways would be developed and a proposal to avail the World Bank loan would be sent to the Union Government. The Public Works Department would initiate the process on the implementation of the project, he added.
The Governor said the World Bank had offered the loan repayable over a 20-year period with lowest interest rate.
He said the Committee had also decided to hand over the Pheraperal ring road project and Outer Ring road project, costing over Rs 3000 crore from the Bangalore Development Authority and Bangalore Metropolitan Region Development Authority to the National Highway Authority.
The BDA and BMRDA would assist the NHAI to acquire the land required for the projects, which also connects to Bangalore International Airport at Devenahalli, he added.
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