Coimbatore: City Corporation has decided to take a 84 crore loan from Tamil Nadu Nadu Finance and the Infrastructure Development Corporation (Tufidco) to meet 50% share for the construction of the bus terminal in Vellalore.
The decision was taken after his efforts.
To get loans from housing and urban development companies do not produce any results.
“We have spent more than 40 crores on the project.
Lack of funds has delayed payments to the contractor and project implementation.
The work began at the beginning of 2020 and should be finished now.
We will accelerate work after tufidco loan sanctions and release the number,” the official said.
The bus terminal was proposed to be established on 61.62 hectares for the first time at the end of 2019.
While the work began at first 2020, the project was mired in various problems, including the scarcity of funds and delays, after the outbreak of Covid-19.
The bus terminal will be bigger than the terminal in Delhi spread in 60 hectares.
The bus terminal will have 140 bays for the outstation bus, 112 bay for empty parking and 33 bays for city buses.
There will be more than 100 parking slots for cars and more than 1,000 slots for two wheels.
“The bus terminal is expected to overcome traffic misery and trigger city growth,” the official said.