Sunday, July 18, 2010

TTMCs behind schedule, project cost to rise

TTMCs behind schedule, project cost to rise

Johnlee Abraham First Published : 17 Jul 2010 09:12:19 AM IST
BANGALORE: Even as the Bangalore Metropolitan Traffic Corporation (BMTC) inaugurated the second Traffic and Transit Management Centre (TTMC) at Kengeri last week, looks like the remaining eight TTMCs that were to come up by July will take another three to four months.
As per the earlier estimate provided by BMTC, the entire project was to cost Rs 447.21 crore. But the newly released brochure shows that the estimated cost of the project would be Rs 479.60 crore.
The recently inaugurated Kengeri TTMC was to cost Rs 29.57 crore, however, at the time of its completion the project cost saw an increase of Rs 10.43 crore.
Besides this, the cost of the Yeshwantpur project has also scaled up by Rs 12.40 crore from the earlier estimated Rs 79.50 crore. The work at Shantinagar TTMC is estimated to cost Rs 109.50 crore, while the cost of the Kormangala TTMC has been increased by Rs 12.5 crore.
P K Garg, Project Director told Express, “There were a few lapses in the cost estimates which were made earlier. Now, they have been added and because of that the final estimate has also increased.” Garg said, “Initially, there was a delay due to the fund allotment issues with the centre. But the work is picking up speed and we will be able to finish the work on time.” Garg added that the BMTC would finish the construction of all the TTMC before the end of this year.
The construction cost of the multi-purpose transit centres is shared by the Central government, the state government and the BMTC. While the Centre will invest 35 per cent of the total cost, the state government will invest 15 per cent and the BMTC will contribute 50 per cent towards developing the TTMCs, under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM).


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