BMRCL to seek Central funds for KIA link

Bengaluru: Bangalore Metro Rail Corporation Ltd (BMRCL) is planning to seek Central funds to partly fund its Nagawara to the Kempe Gowda International Airport (KIA) and the Outer Ring Road (ORR) routes.

It is expected to invite bids for the proposed Gottigere-Nagawara metro line (Reach 6) after it completes the funding process.

BMRCL had formally submitted a detailed proposal for KIA link to the Central Government a few months back.

A senior BMRCL official told Deccan Chronicle, " Rs 5,950 crore is required to build a metro line from Nagawara to KIA. We have received an offer from the European Investment Bank of Rs 3,200 crore. We will be getting the amount only after we submit a detailed project report to the bank. Only then we will be ready to call for tender and start the work."

Another BMRCL source revealed that when Metro Phase 2 plan was prepared, there was no provision to seek funds from the Centre. But as per the new metro rail policy 2015, up to 20 per cent of the cost can be sought from Centre.

"Under the new Metro Rail Policy, the Centre will fund 20 per cent of the cost of new Metro projects, subject to the proposal fulfilling its terms and conditions. We have fulfilled the required conditions and are confident of getting funds at the earliest," a BMRCL official added.

Earlier there was a proposal to impose User Development Fee for passengers travelling from KIA airport, in order to fund Rs 1,000 crore, but it was rejected by the airport authority. They contended that it can be done only after completion of the project.

BMRCL has now approached the Central government to partly fund the project. 


Note from Kannada.Club :

This story has been auto-generated from a syndicated feed from .