India, Oct. 17 -- The Karnataka Cabinet has approved the long-pending Peripheral Ring Road project, now renamed the Bengaluru Business Corridor, aimed at easing the city's chronic traffic congestion.

Deputy Chief Minister D.K. Shivakumar said the 117-km corridor will link Tumakuru Road to Mysuru Road via Yelahanka and Electronic City, providing an alternative route for heavy and inter-city traffic.

The project, to be implemented by the Bengaluru Development Authority (BDA), will be developed as a 60-metre-wide toll road running parallel to NICE Road, with provisions for a future Metro corridor, he said.

The state government plans to raise around Rs.27,000 crore from the Housing and Urban Development Corporation (HUDCO) to fund the proj...