The Cabinet has approved the Bangalore Metro Rail Project
Phase-2. This project will improve the
public transport system in the city of Bangalore and provide the much needed
additional public transport infrastructure for the city.
The total completion cost of the project is estimated at Rs.26,405.14 crore at the price levels
of 2011-12 with price escalation of 5 percent per annum (including escalation
and Central taxes and excluding State taxes and duties).
In the total project cost, the Government of India’s (GoI) share will be Rs.5281 crore
and the Government of Karnataka’s (GoK) share will be
Rs.8983 crore.
The share of GoK includes a Grant of
Rs.1689.90 crore.
The balance amount of Rs.12,141.14 crore will be raised through Senior Debt.
The project
will be executed by the existing Special Purpose Vehicle (SPV) of GoI and GoK having 50:50 equity
of each, that is Bangalore Metro Rail Corporation
Ltd. The project is scheduled to be
completed in five years from the date of start of work.
Courtesy : PIB
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