The Union Budget on Monday approved the state government’s proposal to build a 58.19-km metro line to connect Silk Board to Kempegowda International Airport (KIA) at a cost of Rs 14,788 crore, with the Centre set to fund about 15% of the project.
The approval comes as a shot in the arm for the Bangalore Metro Rail Corporation Limited (BMRCL), which had secured a $500 million loan from the ADB last month to undertake civil works on the line. The project comprises Namma Metro Phase 2A (Silk Board-KR Puram) and Phase 2B (Kasturi Nagar-KIA via Hebbal).
c. The BMRCL has been making preparatory works for the project and already started acquiring properties along the alignment.
Sources in the government said the state government will fund 35% of the project. "As per the latest estimates, about 35% of the cost will be financed through borrowings from bilateral and multilateral agencies. The private sector will invest the remaining 15%,” the source said.
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