After securing funds from various sources for the Phase I of Namma Metro project, the officials of the Bangalore Metro Rail Corporation Limited (BMRCL) are in the process of preparing the detailed project report (DPR) for Phase II. The BMRCL will require Rs. 25,000 crore to undertake Phase II of Namma Metro.
Once the detailed project report is prepared, it will be submitted to the State Government in order to seek funds for the project.
“We are yet to submit the DPR to the State Government. The estimated project cost for Phase II is likely to be Rs. 25,000 crore,” said N Sivasailam, Managing Director, BMRCL. He added that the State Government, after going through the project report, will forward the report to the Union Government for approval of funds. He explained that both the State and the Centre are equal stakeholders in the Namma Metro project.
Covering a span of 70 kms, Phase II is an extension of all the four Reaches (Reach 1 to 4). Additionally Phase II will also have two independent lines; one from Jayanagar to Electronic City and the second from Nagavara to IIM-B, which will be an underground route.
While the detailed plan for Phase II is being finalised, there is no consensus on how long it will take for Phase II to be operational.
“Phase II, which is expected to take out about 35 percent of the commuters from the roads, will take about 7 to 8 years for completion,” said Sudhir Chandra, Director, Project and Planning, BMRCL.
On the other hand, U A Vasant Rao, General Manager, Finance, BMRCL believes that Phase II will not take that long. “Phase II will not take longer than 4 years for completion,” he said.
Funding for Phase I
BMRCL recently received Rs. 700 crore from Housing and Urban Development Corporation (HUDCO) and Rs. 250 million from the Asian Development Bank for Phase I. The cost of the 42.3-kilometre long Phase I was estimated to be around Rs. 11,609 crore. Additionally, the BMRCL also received assistance from the Karnataka State Government and Japan International Cooperation Agency.
Once the detailed project report is prepared, it will be submitted to the State Government in order to seek funds for the project.
“We are yet to submit the DPR to the State Government. The estimated project cost for Phase II is likely to be Rs. 25,000 crore,” said N Sivasailam, Managing Director, BMRCL. He added that the State Government, after going through the project report, will forward the report to the Union Government for approval of funds. He explained that both the State and the Centre are equal stakeholders in the Namma Metro project.
Covering a span of 70 kms, Phase II is an extension of all the four Reaches (Reach 1 to 4). Additionally Phase II will also have two independent lines; one from Jayanagar to Electronic City and the second from Nagavara to IIM-B, which will be an underground route.
While the detailed plan for Phase II is being finalised, there is no consensus on how long it will take for Phase II to be operational.
“Phase II, which is expected to take out about 35 percent of the commuters from the roads, will take about 7 to 8 years for completion,” said Sudhir Chandra, Director, Project and Planning, BMRCL.
On the other hand, U A Vasant Rao, General Manager, Finance, BMRCL believes that Phase II will not take that long. “Phase II will not take longer than 4 years for completion,” he said.
Funding for Phase I
BMRCL recently received Rs. 700 crore from Housing and Urban Development Corporation (HUDCO) and Rs. 250 million from the Asian Development Bank for Phase I. The cost of the 42.3-kilometre long Phase I was estimated to be around Rs. 11,609 crore. Additionally, the BMRCL also received assistance from the Karnataka State Government and Japan International Cooperation Agency.
No comments:
Post a Comment