The Union Cabinet on Thursday approved the Rs. 26,405.14-crore, 72-km Phase 2 of Namma Metro. The project has been given a time frame of five years for completion.
At present, Namma Metro is being operated for about 6.7 km. It is a part of Reach One of Phase 1 of the project.
Of the total project cost of Phase 2, worked out at the price level prevailing in 2011-12, the Union government’s share will be Rs. 5,281 crore and the State government’s Rs. 8,983 crore. The Karnataka government’s share includes a grant of Rs. 1,689.9 crore from the Centre. The balance amount — Rs. 12,141.14 crore — will be raised through major financial institutions. The project cost has been worked out with price escalation of 5 per cent a year.
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Bangalore Metro Rail Corporation Ltd., the special purpose vehicle created jointly by the Union and the State governments with 50:50 equity, will implement the project.
The work involves construction of four extension lines of the East-West and North-South corridors of Phase 1 and two new lines.
It is estimated that around 200 hectares of land is required for Phase 2 which will include construction of 15.5-km Byappanahalli-ITPL-Whitefield extension line with 13 stations, 6.46-km Mysore Road Terminal (Nayandahalli)-Kengeri extension line with five stations, 3.77-km Hesaraghatta Cross-BIEC extension line with three stations, 6.29-km Puttenahalli Cross-Anjanapura Township extension line with five stations, 21.25-km Gottigere-IIMB-Nagawara new line with 18 stations, and 18.82-km R.V. Road Terminal-Bommasandra new line with 16 stations.
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The 42.5 km-long Phase 1 project is being implemented at a cost of Rs. 11,609 crore.