REC Ltd, a state-owned enterprise under the Ministry of Power, has approved financial assistance of ₹3,045 crore to the Bangalore Metro Rail Corporation (BMRCL) for the development of Phase-II of the Bangalore Metro project. The Phase-II project comprises the extension of two corridors of Phase-I and the establishment of two new lines.
With the completion of Phase-II, the combined network of the Bangalore Metro will be 114.39 km, with 101 stations. The Phase-II project is expected to cost around ₹14,788 crore. The central government will contribute ₹3,973 crore, the state government will contribute ₹2,762 crore, and the BMRCL will raise the remaining amount through loans from multilateral and bilateral funding agencies.
The Phase-II project is will expect to be complet by 2025. It will help to improve connectivity and reduce traffic congestion in Bengaluru.
Here are some of the benefits of the Phase-II project:
- It will improve connectivity between different parts of Bengaluru.
- It will reduce traffic congestion in the city.
- It will provide a clean and efficient mode of transportation for the citizens of Bengaluru.
- It will create employment opportunities in the construction and operation of the metro.
India Honors Barry Gardiner and Peter Brook with Padma Shri Awards
