The Central government is currently negotiating with the World Bank to fast track Rs. 5,115cr WB-aided road development project in Tamil Nadu and the deal is all set to be sealed very shortly, State's Principal Secretary, Department of Highways & Minor Ports, Rajeev Ranjan said adding that the World Bank will provide $300 million while the State government is seeking $500 million. A Detailed Project Report for 2,079 km is ready of which 435 km will be two-lane project and 165 km will be four-lane.
He further revealed that under the Vision 2023, Rs. 1.34 lakh-cr is to be spent to upgrade road and port infrastructure and worth Rs. 3,800cr was spent on road development and this year will touch the figure worth Rs. 5,000cr. In regard to second phase of the Outer Ring Road, the construction work is expected to be completed six months ahead of scheduled time. The second phase costing nearly Rs. 1,400cr is from Nemilichery to Minjur, in the northern periphery of the city while in the first phase it was from Vandalur to Nemilichery.