BANGALORE (Metro Rail News): Bangalore Metro Rail Corporation Limited (BMRCL) by Rail India Technical and Economic Service (RITES) Limited, a consulting firm for the Ministry of Railways, is scheduled to be approved by the State government for the final Detailed Project Report (DPR) for Phase 3. BMRCL has estimated that the 44.65-km elevated project would cost over Rs 13,000 crore and have a ridership of 4.65 lakh passengers per day when it becomes operational in 2028.
Anjum Parwez, managing director of BMRCL stated that BMRCL’s final round of discussions took place on Wednesday. We will give the DPR to the State government in the near future, and the State government will send it to the Centre for its approval. Phase-3 is projected to cost more than Rs 13,000 crore at current (2022) rates, according to the computation. However, the price would have significantly increased by the time the project was finished in 2028 due to increases in material and construction costs, among other factors, the MD added.
BMRCL has not undergone any alignment changes in the two corridors proposed by RITES in its final DPR, Corridor One for 32.15 kilometres from JP Nagar IVth Phase to Kempapura, with 22 stations, and Corridor Two for 12.5 kilometres from Hosahalli to Kadabgere on Magadi Road, with 9 stations.
We performed analyses and expect 4.65 lakh daily riders on both lines in 2028,” the official added. The MD responded that options were being provided by BMRCL and that the Ministry of Housing and Urban Affairs and the Ministry of Finance would make the final decision when questions regarding the financial model were raised.
An official stated that the three financial options are as follows: a Special Purpose Vehicle model, in which the State and Centre would each contribute 20%, and the remaining 60% would be raised through loans; a Viability Gap Funding Scheme (PPP model), in which the State and Centre would both contribute 20% again, and the remaining would be raised by private parties; and a Grant model, in which the Center would contribute 10% of the project cost as a grant.
