Central government approves Rs 15 billion for Pune Ring Road Project

The central government has approved funds worth Rs 15 billion for the implementation of the Pune Ring Road Project in Maharashtra. The project involves the construction of a 129 km ring road, which will be developed as an economic corridor by integrating tourism-, industrial- and agriculture-based activities. It will be funded by the National Highways Authority of India (NHAI) and executed by the Pune Metropolitan Regional Development Authority (PMRDA) on an engineering, procurement and construction basis. The project is estimated to cost Rs 133.15 billion and the PMRDA is planning to obtain loans from the Asian Development Bank (ADB), the Japan International Cooperation Agency and other agencies to fund the project.