Date of Post: 05 Sep, 2017
Bangalore: On Monday, the State Cabinet approved an additional Rs 2,187 crore (approx US$ 342 Million) for acquisition of lands for phase-II of the Bangalore Metro Rail project.
A Cabinet meeting chaired by CM Siddaramaiah approved the additional allocation for the BMRCL (Bangalore Metro Rail Corp Ltd.) project for expediting the land acquisition process.
- The 18.82 km long metro line from R.V. Road – Bommasandra link of Phase-II will pass through the avenues of Jayanagar & Marenahalli Road before reaching Silk Board Junction.
- The total cost of land acquisition in the phase-II would Rs 6,293 crore (approx US$ 983 Million), including the additional Rs 2,187 crore (approx US$ 342 Million).
- The BMRCL would borrow around Rs 12,000 crore (approx US$ 1,875 Million) as loan from various international banks & investors for completion of the phase-II.
- The phase-II of the project will cost Rs 26,400 crore (approx US$ 4,125 Million) & is expected to complete in the next 5 years.
- The Central & state government is expected to bear 55% of the total cost.