BMRCL signed Rs. 3,643 crore loan agreement with ADB

BMRCL signed Rs. 3,643 crore loan agreement with ADB


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BENGALURU (METRO RAIL NEWS): The 19e In August 2021, BMRCL signed a loan agreement worth Rs 3,643 crore with the Asian Development Bank (ADB) to complete two crucial routes along the Outer Ring Road and Metro Corridor of the airport, covering 58.19 kilometers in total.

BMRCL CPRO Shri BL Yashavanth Chavan said the agreement was signed between BMRCL Director General Anjum Parvez, Ministry of Housing and Urban Affairs Director Janardan Prasad and Country Director of the Asian Development Bank. , Mr. Takeo Konishi.

On March 26, 2021, the company signed another loan agreement with the Japan International Cooperation Agency (JICA) for Rs. 2,317 crore for the same project.

Note that the Indian government had given the green light for the implementation of the project of phase 2A (Silk Board at KR Puram) and phase 2B (KR Puram at Bengaluru international airport) for a road length of 58.19 KM, having an estimated cost of Rs. 14,788 crore, according to CPRO, BMRCL. The state and central government will donate Rs. 3,973 crore through equity and subordinated debt for this project.

The Karnataka State Government will bear the cost of acquiring the land of Rs 2762 crore. Rs. The amount of foreign aid of 5,960 crore was to be collected through a loan from bilateral or multilateral funding agencies, for which the agreements were reached, added Mr. Chavan.

According to the BMRCL report, the agency reports that the arrangement of the remaining amount of Rs. 2,093 crore would be done through external means, another loan deal with a financial institution. Meanwhile, the purple line of the Namma metro recently got clearance from the Metro Rail Safety Commissioner (RSMC). Nonetheless, the network is expected to be further delayed before opening up to commuters.

The government’s original plan was to complete the route and make it accessible to commuters on the 20e August 2021, the day of Varamahalakshmi. But the inauguration process has been delayed, a senior BRMC official said. The official added that the rail company is struggling to secure dates from both the Center and the State for the inauguration.

“It seems unlikely that we will be able to launch operations on the day of Varamahalakshmi, as it is difficult to bring together the dates of the leaders at both levels in such a short time. However, a date is expected to be announced in the next few days, recently confirmed RSMC permission to launch the purple metro line, which spans 7.53 km covering the areas between Mysore Road and Kangeri, said Shri Anjum. Parwez, MD, BMRCL.

He also said that the BMRCL had received many suggestions to start the works and hopes to start the services soon for our commuters.

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