<p>Bangalore Metro Rail Corporation Limited (BMRCL) will be a partner with the Mantri Infrastructure Private Limited (a unit of Mantri Developers Pvt Ltd) in the venture. Speaking on the occasion, the chief minister exuded optimism that seven km of Reach One of the first elevated section from Byappanahalli to Chinnaswamy Cricket Stadium would be commissioned for commercial operations by December. <br /><br />“The Phase One covering 42.3 km is likely to be commissioned by March 2013,” he said. <br />Lauding the PPP model, Yeddyurappa said ventures of this kind will help reduce project costs besides ensuring immediate social benefits. "Such initiatives should be explored more often by the civic bodies for the benefit of end users," he added.<br /><br />Infrastructure work<br /><br />The State will spend Rs 200 crore to develop 25 lakes in Bangalore, he said. "In the next three years, Rs 18,872 crore will be spent for the development of Bangalore. As many as 15 infrastructure projects will be undertaken at a cost of Rs 4,000 crore,”he added.<br /><br />He said that mono rail and local trains were necessary for Bangalore due to the growing population here. Metro will facilitate reduction in air and noise pollution besides reducing travel time for the public, Yeddyurappa added. Thirty-three elevated stations will be built in the first phase of Namma Metro project.<br /><br />Land acquired<br /><br />Five acres and 4 guntas of land have been acquired from Mantri Developers for the construction of the station. As per the PPP agreement, the land will be provided free of cost by the developer. The construction period is 20 months. The compensation provided to the private partner is the right to use the space surrounding the Metro station for a period of 99 years. <br /><br />During this period, Namma Metro is also entitled to a minor share in the revenues ranging from 1% initially to 5% in later stages. A commercial complex will be constructed around the station building on 80,000 sqft. The commercial tower will come up on 8 lakh sqft. Parking will be provided for 2,000 cars.<br /></p>
<p>Bangalore Metro Rail Corporation Limited (BMRCL) will be a partner with the Mantri Infrastructure Private Limited (a unit of Mantri Developers Pvt Ltd) in the venture. Speaking on the occasion, the chief minister exuded optimism that seven km of Reach One of the first elevated section from Byappanahalli to Chinnaswamy Cricket Stadium would be commissioned for commercial operations by December. <br /><br />“The Phase One covering 42.3 km is likely to be commissioned by March 2013,” he said. <br />Lauding the PPP model, Yeddyurappa said ventures of this kind will help reduce project costs besides ensuring immediate social benefits. "Such initiatives should be explored more often by the civic bodies for the benefit of end users," he added.<br /><br />Infrastructure work<br /><br />The State will spend Rs 200 crore to develop 25 lakes in Bangalore, he said. "In the next three years, Rs 18,872 crore will be spent for the development of Bangalore. As many as 15 infrastructure projects will be undertaken at a cost of Rs 4,000 crore,”he added.<br /><br />He said that mono rail and local trains were necessary for Bangalore due to the growing population here. Metro will facilitate reduction in air and noise pollution besides reducing travel time for the public, Yeddyurappa added. Thirty-three elevated stations will be built in the first phase of Namma Metro project.<br /><br />Land acquired<br /><br />Five acres and 4 guntas of land have been acquired from Mantri Developers for the construction of the station. As per the PPP agreement, the land will be provided free of cost by the developer. The construction period is 20 months. The compensation provided to the private partner is the right to use the space surrounding the Metro station for a period of 99 years. <br /><br />During this period, Namma Metro is also entitled to a minor share in the revenues ranging from 1% initially to 5% in later stages. A commercial complex will be constructed around the station building on 80,000 sqft. The commercial tower will come up on 8 lakh sqft. Parking will be provided for 2,000 cars.<br /></p>
