The Hindu Business Line : BMICP project: Promoters going ahead with soft launch

Even as the Bangalore Mysore Infrastructure Corridor project issue threatens to snowball into a political crisis in Karnataka, the promoters are going ahead with the opening of a small stretch of the peripheral road here on Friday.

Nandi Infrastructure Corridor Enterprises Ltd, the special purpose vehicle implementing the Rs 2,250-crore toll road-cum-townships project, has sent out invitations to the soft launch of a 9-km link from the city between Mysore Road and Kanakapura Road.

Phase I project

The stretch at the `clover leaf interchange' is part of Phase I that includes the 41-km semi-circular peripheral road around Bangalore and a 12-km road to Bidadi. The peripheral road itself is planned to link three major points on outer Bangalore: from Hosur to Hyderabad road on NH7 to NH4 towards Pune.

Late on Tuesday, the Cabinet did not take up the proposed infrastructure bill aimed at curtailing or taking over the BMICP; the coalition partners — the Janata Dal (S) and the BJP — were seriously divided on the proposal of the Chief Minister, Mr H.D. Kumaraswamy, to completely take over the project on the ground that it had surplus land and was a mere real-estate proposition.

Penalty cheque bounces

NICE's contention is that this matter has been settled in April this year, with the Supreme Court dismissing these charges and ordering Rs 5 lakh as damages from the Government to the company.

On Wednesday, it said the cheque for the penalty had bounced. Canara Bank, where the company had deposited the cheque, had returned it for insufficient funds. The Government had on May 26 issued the cheque from the State Bank of Mysore treasury branch.

According to SBM, the bank had not received the customary LoC (letter of credit) to release the amount.

The Rs 1,150-crore Phase 1 that is currently in progress at the Bangalore end is being implemented by NICE subsidiary, Nandi Economic Corridor Enterprises. Anil Dhirubhai Ambani Enterprises has a 15 per cent stake in the company and is the broadband partner for Phase I.

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BMICP project: Promoters going ahead with soft launch