No companies have shown interest in the tender process for building the 74-km Peripheral Ring Road (PRR) project of the Bangalore Development Authority (BDA).
It is said that a “lack of clarity” and the risk involved, in fixing compensation for acquisition of private land for the project, forced the investors to backtrack.
As per the policy decision, the private investor has to bear the cost of land acquisition along with the project cost. The project requires 2,560 acres of land.
