Bangalore: The BMRCL has formally submitted a detailed proposal to the Centre asking it to fund 10% of the cost of two of its crucial projects: the Metro route from Nagawara to the Kempegowda International Airport (KIA) & the Outer Ring Road (ORR) route. While the ORR line from K R Puram-Silk Board (Phase-2A) running to 17 km costs Rs 4,202 crore, the 29km long Nagawara to Kempegowda International Airport (KIA) line costs Rs 5,950 crore.
“We had submitted a similar proposal when Urban Development Minister Hardeep Singh Puri visited the city last month. A request to expedite the proposal has now been made by us and we have received a positive response,” BMRCL Managing Director Mahendra Jain said.
Jain added,“We are confident of getting the funding at the earliest as we fulfil all the norms required.”
The ORR line will be the first Metro line to be built on the Innovative Financing model with top corporate concerns already expressing their interest to fund different stations along the route.