The Centre on Thursday approved the 72-km second phase of the Bangalore Metro Rail project with an estimated investment of Rs 26,405.14 crore. It took into account price levels in 2011-12 when the State government approved Metro Phase II project with a cost escalation of 5 per cent.
Of the total investment, the Centre’s share will be Rs 5,281 crore, while the state will pitch in with Rs 8,983 crore.
Rest of the Rs 12,141.14 crore will be raised through senior debt, said a statement.
The project will be executed by a special purpose vehicle and is scheduled to be completed in five years from the date of commencement of work. The approved lane comprises the east-west line, north-south line, R V Road-Bommasandara and the Gottigere-Nagawara routes. Around 14.80 lakh commuters are expected to avail the services daily by 2016, said the statement.
Once commissioned, the east-west corridor will be a boon to the IT crowd in the City, as most of their offices are located in Whitefield.
The present line on the eastern side, from M G Road to Baiyapannahalli, will be extended to Whitefield as a fully elevated line.
Further, there will be a new line from the R V Road station on the north-south corridor to Bommasandra, thus benefitting IT employees working in Electronic City.
Similarly, on the western side, along the east-west corridor, the line will be extended to Magadi Road from Mysore Road Terminal.
On the north-south corridor, towards the northern side, the line will be extended from Sampige Road through Peenya Village to Nagasandra and on the southern side, from National College to Puttenahalli.
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