The Bengaluru suburban railway project received a boost on Wednesday as the Cabinet approved investing 20% of the total project cost — ₹1,745 crore — over the next two years.
The State’s equity in the project that would come to about ₹349 crore will be allocated over two financial years. 2018-2019 and 2019-2020, Law and Parliamentary Affairs Minister T.B. Jayachandra said, at the post Cabinet briefing on Wednesday. Following the agreement between the State and Indian Railways, a special purpose vehicle (SPV) will be formed to raise the remaining amount to implement the project.
The project — to be completed in three years after the work commences — will have 58 trains and 116 services to towns around Bengaluru, Mr. Jayachandra said. Each train will have a carrying capacity of 1,800 to 2,000 passengers. The project involves a total of 440 km. “This was a long pending issue, which has been finalised now. Soon after the budget provision is made, work will commence. The SPV will raise the necessary funding as per the suburban railway policy of Indian Railways,” he added.
During his recent visit, Union Minister for Railways Piyush Goyal said the project would be taken to its ‘logical conclusion’ if the State government provided 5 Floor Space Index under the Transit Oriented Development, so that Bengaluru’s suburban network could be completed with a 50% share from the State government and the rest from the Railways.
A senior official with the Urban Development Department said, “The State government had given in-principal approval on proposals made by the Railway Ministry. We are yet to receive formal proposal on providing FSI.”
The State government had made the Directorate of Urban Land Transport (DULT) a nodal agency for monitoring and supervision of the suburban rail project. It will also initiate the establishment of the SPV.
Upgrading signals
The State Cabinet has also cleared the Home Department’s proposal to upgrade 363 signals to Vehicle Actuated Traffic Signal (VATS).
The traffic police have also proposed that 100 traffic signals in the city manage increased traffic. This project will cost ₹85.34 crore.
