INR 1,100 Crore to be Raised by Bangalore Metro For Phase 2A via Innovative Funding

INR 1,100 Crore to be Raised by Bangalore Metro For Phase 2A via Innovative Funding

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Bangalore: BMRCL is going to raise a major part of the cost for the Metro line project between KR Puram and Central Silk Board (Phase 2A) via innovative funding and leasing its land.

Further Info About the Bangalore Metro Phase 2A Funding:

  1.  Project Estimated Cost: INR 4202 Crore
  2.  The project will connect two key traffic junctions on the Outer Ring Road (ORR) corridor.
  3.  The state government has set a three-year deadline for the project, as per the gazette notification.
  4.  The government has promised INR 500 crore and told the BMRCL to raise Rs 1,100 crore through innovative funding and Rs 500 crore by leasing out its land.
  5.  And the remaining INR2,100 Crore, BMRCL will borrow.

As part of innovative financing model, the BMRCL will provide direct connectivity to various IT parks from Metro stations through bridges. Advertising, commercial and naming rights for the stations are other means, besides various cess and fees which are expected to generate a quarter of the project cost.

While noting that the project should be expedited and completed along with the Phase 2 in 2020, the state government has, however, set a rider.

The BMRCL has been told to begin work on the project only after raising Rs 250 crore through leasing of land and get “firm commitment” of Rs 250 crore in the innovative funding model.

More About Phase 2A:

  1.  Length: 17 Kilometre long line
  2.  No. of Stations: 13
  3.  Junctions: KR Puram and Silk Board stations
  4.  After Becoming Operational, the line is expected to carry more than 3.5 lakh people.

An additional 2.5 km line will connect Baiyappanahalli depot to the line. As part of Phase 2, the BMRCL will build a depot at Kadugodi for which the state government has agreed in principle to provide 50 acres.

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