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Centre approves Bengaluru Metro's phase 2A, 2B airport project
Centre approves Bengaluru Metro’s phase 2A, 2B airport project
The Central government on Tuesday approved Phase 2A and Phase 2B of Bangalore Metro Rail Corporation Limited (BMRC) project.
Bengaluru: The Central government on Tuesday approved Phase 2A and Phase 2B of Bangalore Metro Rail Corporation Limited (BMRC) project. The phases, Central Silk Board to KR Puram (Phase 2A) and KR Puram to Kempegowda International Airport (Phase 2B)—is a 58.19 km stretch connecting the city to the airport via the Hebbal junction.
The Rs 14,000-crore project is expected to be completed by June 2025 as per the deadline given by Chief Minister BS Yediyurappa-led Metropolitan Planning Committee.
The line was first proposed in 2017 and, in January 2021, the plan was sent to the Public Investment Board (PIB) for clearance by the Ministry of Urban Affairs. Union minister DV Sadananda Gowda said, "The project involves integration with other urban transport systems in an efficient and effective manner and will streamline the city's urban transportation system."
The BMRCL is raising Rs 5,960 crore as loan from multilateral agencies or through domestic sources (60% share). The Karnataka government will also bear land acquisition cost and property development, that comes to Rs 2,761 crore, while the remaining funds required for the project will be through innovative financing and other sources.
The Corporation has also received a loan of $ 500 million for the project in December 2020, even before it was approved by the Union Government.
