Bengaluru Suburban Rail Project gets ₹2,693 crores boost from European Investment Bank (EIB)

MRT Online Desk Posted on: 2024-05-15 08:30:00 Viewer: 1,252 Comments: 0 Country: India City: Bengaluru

Bengaluru Suburban Rail Project gets ₹2,693 crores boost from European Investment Bank (EIB)

Bengaluru, India (Metro Rail Today): In a significant stride towards enhancing Bengaluru's public transportation infrastructure, the Bengaluru Suburban Rail Project (BSRP) has received a substantial financial injection. The European Investment Bank (EIB), recognized as the world's largest multilateral financial institution, has granted a loan of ₹2,693 crores to bolster the initiative. This funding approval underscores a pivotal moment in the project's timeline, propelling it closer to realization.

The financing framework for the project encompasses contributions from various stakeholders. Notably, both the Karnataka government and the Central government have committed 20 per cent of the project's funding, with the remaining 60 per cent secured through loans. Such collaborative efforts underscore the shared commitment towards advancing public transportation solutions in Bengaluru.

Rajesh Kumar Singh, Director (Projects & Planning) at Rail Infrastructure Development Company (Karnataka) Limited (KRIDE), affirmed the EIB's endorsement of the project, indicating a crucial milestone in its progression. He stated, "The EIB has given its in-principle nod for the project for 300 million Euros on Wednesday (May 8). With this approval, the loan component for the Rs 15,767-crore suburban rail project has been fully mobilised." Additionally, Germany's KfW Development Bank has emerged as a significant contributor, having inked a loan agreement worth ₹4,552 crore (500 million Euros) alongside a grant of ₹40.96 crore (4.5 million Euros) on 15 December 2023.

The Ministry of Railways has greenlit the Bengaluru Suburban Rail Project, earmarking a total budget of ₹15,767 crore. This ambitious endeavor aims to establish an extensive suburban railway network spanning 148 km, encompassing 58 stations distributed across four corridors.

The BSRP's comprehensive plan entails the development of four corridors, totaling 148.17 km in length. Notably, Larsen & Toubro Limited has secured contracts for two of these corridors: KSR Bengaluru City to Devanahalli (corridor 1 - 41.4 km) and Baiyappanahalli to Chikkabanavara (corridor 2 - 25.01 km). Initiating the Kanaka Line, construction activities commenced with the barricading of the railway line on 7 May. Essential preliminary tasks, including soil testing and re-surveying, have been diligently carried out over the past four months. Furthermore, the construction of five minor bridges along this route is underway, with a targeted completion deadline set at 30 months from the contract award date of 30 December 2023. Additionally, the leasing of land from the railways was formalized on 2 April 2024, facilitating further progress in pre-construction activities such as surveying and drone reconnaissance.

Regarding the remaining corridors, Singh disclosed plans for the partial awarding of contracts post the model code of conduct's lifting. Specifically, the contract for the first corridor (Sampige Line), covering 41 km from KSR Bengaluru to Devanahalli via Yelahanka, is slated for partial awarding shortly. Similarly, the contract for the third corridor (Parijaata Line), spanning 35 km from Kengeri to Whitefield, is expected to follow suit a month later.

The imminent completion of the 7.4-kilometre stretch of Section 4 along Corridor-2, extending from Chikkabanavara to Yeshwantpur, marks a significant milestone in the project's timeline. Scheduled for inauguration in December 2025, this segment heralds the commencement of operations, laying the groundwork for subsequent phases. Corridor-2 is anticipated to achieve full operational capacity by June 2026, with Corridor-4 slated for completion by December 2026. The finalization of the remaining two corridors is projected for December 2027.

Prime Minister Narendra Modi's inauguration of the suburban rail project on 20 June underscored the government's unwavering commitment to bolstering Bengaluru's transportation infrastructure. With a promise of completion within 40 months, the Bengaluru Suburban Rail Project is poised to transform connectivity across the city and its surrounding areas, fostering economic growth and enhancing commuter convenience.

The approval of substantial funding from the European Investment Bank and other key stakeholders signals a significant leap forward for the Bengaluru Suburban Rail Project. With meticulous planning and concerted efforts, the project is well on its way to meeting its ambitious completion target of December 2025, ushering in a new era of enhanced connectivity and mobility for Bengaluru residents.

  




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