In an innovative fund generating move, the state Cabinet in Karnataka recently approved Bangalore Metro Rail Corporation Ltd proposal to rope in corporate to finance the 17-km KR Puram-Silk Board line under its newest financing strategy. This will pave the way for commencing work on this crucial Phase 2(A) project and BMRCL plans to invite tenders very shortly, Managing Director Mahendra Jain said that the government laid a condition that the metro must show proof of mobilizing Rs.450 crore as resources from land leasing and corporate development under its innovative financing strategy for the new line. While BMRCL could mobilize Rs.250 crore from its land leasing and another Rs.200 crore is to be mobilized by the involvement of corporate in the financing mechanism. In this connection, MoU was signed a few months ago with Intel for developing Bellandur Metro station and with Embassy Group for Kadubeesanahalli metro line. Innovative funding includes equity participation, leasing and commercial exploitation of lands. There will be 13 stations in this route including K R Puram Interchange station, Mahadevapura, DRDO Sports Complex, Doddanakundi, ISRO, Marathahalli, Kadubeesanahalli, Bellandur, Iblur, Agara lake, HSR Layout and Silk Board Interchange, he added.
📅Published on:
19 February 2018
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