Karnataka Govt approves ₹16,328 crore Bangalore Metro's Phase 3 Corridors

Bengaluru, India (Metro Rail Today): The Karnataka Chief Minister Basavaraj Bommai has gave his approval for Bengaluru Metro’s most-awaited Phase-3 project on 18th November 2022. The project is estimated at a cost of Rs 16,328 crore. Now the files moved to Central Government for approval. 

“The CM has approved Bangalore Metro Rail Corporation Ltd (BMRCL)'s Phase-3 project today (Friday). The Urban Development Department will be sending it to the Centre for its approval, on Saturday. The project received an in-principle approval from the Finance Department a few weeks ago,” said Rakesh Singh, Additional Chief Secretary, Urban Development Department.

Phase 3 project of Bangalore Metro will cover a length of 44.65 km with two corridors, one along West of Outer Ring Road (ORR) and the other is via Magadi Road. The Central and State governments will bear 20% of the project cost each, while the remaining 60% will be mobilised through external assistance/ODA loans from financial institutions. The estimated cost has been fixed bearing in mind cost escalation for the next five years. 

According to the plan, Corridor 1 will run 32.15 km from J P Nagar 4th Phase to Kempapura along the ORR touching 22 stations, while Corridor 2 will run from Hosahalli to Kadabagere (via Magadi Road) for 12.5 km and cover 9 stations. The total required area for building these corridors will be 110 acres, of which 85% will be government land and the rest private.

Corridor 1 will have 22 metro stations at JP Nagar 4th Phase, JP Nagar 5th Phase, JP Nagar, Kadirenahalli, Kamakya Junction, Hosakerehalli, Dwaraka Nagar, Mysore Road, Nagarbhavi Circle, Vinayaka Layout, Papireddypalya, BDA Complex Nagarbhavi, Sumanahalli Cross, Chowdeshwari Nagar, Freedom Fighter’s Colony, Kanteerava Nagar, Peenya, Muthyala Nagar, BEL Circle, Nagashetty halli, Hebbal railway station and Kempapura. At nine stations, it will integrate with Metro, Suburban Rail or BMTC to ensure seamless connectivity for commuters.

Corridor-2 will have 9 metro stations at Hosahalli, KHB Colony, Kamakshipalya, Sumanahalli Cross, Sunkadakatte, Herohalli, Byadarahalli, Kamath Layout, Kadabagere. It will integrate with Metro at the two stations of Hoshahalli and Sumanahalli Cross. A common depot for both corridors has been planned at Sundanakatte.

The Phase 3 project will also integrate with road infrastructure proposed by BBMP at the flyover on Kanakapura Road Junction on ORR (near JP Nagar Metro station) for 1.36 km and the flyover at Kamakya-Ittamediu-Hosakarahalli junctions for a length of 1.56 km, the document said.

Integrated structures will be built by BMRCL at a cost of Rs 507.29 crore with cost-sharing between Bangalore Metro Rail Corporation Ltd (BMRCL) and Bruhat Bengaluru Mahanagara Palike (BBMP) in the ratio of 75:25. The funding pattern for Rs 16,328 crore under the Special Purpose Vehicle (SPV) will be Rs 2,526 crore each by the Central Government and Karnataka Government, which covers 16.13% equity share by each and 3.87% for Subordinate Debt (SD) for Central taxes by each.

The subordinate debt in the form of external assistance through bilateral and multilateral agencies or commercial loans comes to Rs 7,577 crore. The innovative financing comes to Rs 150 crore, SD for land and Renovation and Refurbishment (R&R) is Rs 2,019 crore and SD for state taxes is Rs 855 crore. Interest during construction to be borne by Government of Karnataka comes to Rs 275 crore.

For more details, please explore the Bangalore Metro page of Metro Rail Today.