MPC approves ₹14,788.10-cr Namma Metro expansion

The Metropolitan Planning Committee (MPC) has approved Namma Metro's projects Phase II-A from Central Silk Board to KR Puram and also Phase II-B starting from KR Puram to the Kempegowda International Airport covering a total length of 58.19 km. The approval came after the Centre approved the project and nearly two years after the state government steered cleared the mega metro project. Now the state has initiated the process of land acquisition and other issues related to the project. The state Chief Minister has given his consent to issue work orders to Shankaranarayana Constructions and Afcons Infrastructure Limited, the lowest bidders for the Phase II-A project. The total cost of the two projects is estimated to be ₹14,788.10 crore and they are expected to be completed in five years. When Phases II-A & II-B become fully operational, with the Metro Corridor, Bengaluru will have 172 km of Metro Rail network, approximately. The BMRCL plans to raise ₹850 crore from the station naming and access rights to firms and a similar amount by monetization of assets at the airport. It also hopes to raise Value Capture Financing (VCF) of ₹250 crore via the Transit-Oriented Development (TOD) mechanism.