Metro II boon to south
South Bangalore, which houses a majority of IT firms, is likely to benefit the most from the proposed Bangalore Metro phase II if the current plan is anything to go by.
“Due to the cluster of IT firms, south Bangalore has grown at a much rapid pace than other parts of the City. So, it will be convenient if the metro runs in this part. Investors will vie with one other to mobilise funds for the project. The second phase is likely to cost around Rs 10,000 crore,” officials said.
The Delhi Metro Rail Corporation (DMRC) is preparing the DPR, which in all probability will be submitted to the Bangalore Metro Rail Corporation (BMRC) in two months. Phase I, which is officially named Namma Metro, crisscrosses the core City areas in two corridors, mostly within the Outer Ring Road. It touches all corners of the City.
The DMRC follows the Comprehensive Traffic and Transportation Plan (CTTP) for Bangalore prepared by RITES, a Government of India enterprise.
However, the consultant will finalise the DPR based on, among others, the traffic density study, officials said.
The DMRC, according to officials, is yet to finalise the finance model for phase II of the project. It is working on three options: 100 per cent private funding (with a provision for the required viability gap funding), complete funding by the government (both the Centre and the State) and PPP (with the government sharing civil works, while private partners taking charge of systems and operation). The BMRC is implementing Namma Metro with complete government funding.
Once the DPR is finalised, the BMRC will place it before both the State and Central governments, seeking their nod to go ahead with the implementation of the project. If everything goes according to the plan, work on phase II will begin in mid 2010, official sources said.