EIB fires €500-mn in Bangalore metro

    Bangalore metro
    Injecting a major booster to the country’s metro rail sector, European Investment Bank (EIB) has recently signed a €500-million finance contract with India for funding the Bangalore Metro Rail Project Phase II Line R6, claimed official sources, elaborating that agreement for the first tranche of €300 million has already been signed and that the implementation period for the project is five years from the date of its commencement. Phase II of the Bangalore Metro Rail projects is being jointly financed by the EIB, which will provide €500 million and the Asian Infrastructure Investment Bank that will give €300 million. The project envisages extension of East-West and North-South lines for Bangalore Metro Rail which includes a total length of 72.095 km and 61 stations with 12 underground stations, they added.
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