New Delhi (Metro Rail News): On June 14, 2024, the Ministry of Finance’s Department of Economic Affairs (DEA) signed a Memorandum of Understanding (MoU) with the European Investment Bank (EIB) for a €300 million loan for the Bengaluru Suburban Railway Project (BSRP). The loan agreement was signed in the presence of officials from both the DEA and EIB in New Delhi.
According to K-RIDE, the loan will facilitate the initiation of tenders for Corridor 1, Depot-2, track, and traction, further expediting the progress of the Bengaluru Suburban Railway Project (BSRP).
In December 2023, the German investment bank KfW also signed a similar Memorandum of Understanding (MoU) for a €500 million loan.
Project Funding:
The €800 million loan, comprising €300 million from EIB and €500 million from KfW, covers 60% of the total project cost of Rs 15,767 crore. While the 40% cost will be covered by the union and state governments.
Bengaluru Suburban Railway Project
The Bengaluru Suburban Railway Project (BSRP) stretches 149 km through 4 corridors and two depots. The project is a key initiative that is designed to offer a reliable and sustainable mode of transportation. It aims to reduce traffic congestion within the city and establish a dedicated suburban rail network to meet the increasing transportation demands of Bengaluru and its neighbouring regions.
Corridor 1: Pre-construction activities are underway for Corridor 1 (Sampige Line) which spans 41.4 km. This corridor will connect Majestic to Devanahalli, with a branch line extending to the Kempegowda International Airport.
Corridor 2: The groundwork has started on Corridor 2, known as the Mallige Line, extending 25.57 km from Benniganahalli to Chikkabanavar.
Corridor 3: Initial groundwork has commenced on Corridor 3. It runs from Kengeri to Whitefield covering a distance of 35.52 km.
Corridor 4: K-RIDE has recently awarded the civil work contract for 46.88 km long Corridor 4 (Kanaka Line). This corridor will connect Heelalige to Rajanukunte. The groundwork on this corridor is likely to begin shortly.
