KRIDE signs ₹4,540 crore loan agreement with KfW Development Bank

MRT Online Desk Posted on: 2024-02-09 17:30:00 Viewer: 860 Comments: 0 Country: India City: Bengaluru

KRIDE signs ₹4,540 crore loan agreement with KfW Development Bank

Bengaluru, India (Metro Rail Today): In a significant step towards transforming the region's transportation landscape, Dr. M. B. Patil, Minister for Commerce & Industries, Infrastructure, Government of Karnataka, presided over the signing ceremony of the Separate Agreement facilitating a crucial loan for the Bengaluru Suburban Rail Project (BSRP) between K-RIDE (Rail Infrastructure Development Company Karnataka Limited) and KfW Development Bank. The loan agreement, amounting to approximately Rs 4,561 crores, coupled with an additional grant of around Rs 36.75 crores, is poised to propel the BSRP towards realization, marking a significant milestone for the project.

Financial Collaboration Key to BSRP Success

The Bengaluru Suburban Rail Project envisioned as an eco-friendly transportation system similar to the Bengaluru Metro, is set to revolutionize commuter dynamics within the district and its surrounding areas. With a total project cost estimated at INR 7,438 crores, the financial collaboration between K-RIDE and KfW Development Bank becomes pivotal for the successful execution of the project. The loan and grant together contribute significantly to the total project cost and underscore the commitment to enhancing public transportation infrastructure in Bengaluru.

BSRP Network and Corridor Details

Envisaged as an extensive network covering 148.17 km, the BSRP will feature 57 strategically positioned stations across six directions of Bengaluru. The project is segmented into multiple corridors catering to different parts of the city:

  1. Kengeri (Mysuru side): Serving the western expanse.
  2. Chikkabanavara (Tumakuru side): Catering to the northern stretch.
  3. Rajanukunte (Doddaballapura side): Enhancing connectivity to the northwest.
  4. Devanahalli (Kolar side): Extending reach to the northeast.
  5. Whitefield (Bangarapet side): Focusing on the eastern corridor.
  6. Heelalige: Extending connectivity to the southern periphery.

BSRP's Commitment to Sustainability and Accessibility

Operational oversight and management of the Bengaluru Suburban Rail system fall under the purview of Rail Infrastructure Development Company (Karnataka) Limited, known as K-RIDE. The project not only promises enhanced connectivity but also positions itself as a sustainable and eco-friendly alternative, aligning with global trends towards greener transportation solutions. Taking cues from the success of the Bengaluru Metro, the BSRP aims to provide a seamless and efficient transit experience for Bengaluru's growing population.

A Collaborative Journey Towards Progress

The collaborative efforts between K-RIDE and KfW Development Bank underscore a shared commitment to sustainable, accessible, and efficient public transportation. The BSRP, with its focus on enhancing connectivity, reducing congestion, and providing eco-friendly transit options, heralds a new era for commuters in Bengaluru. As tracks are laid and stations rise, the BSRP stands as a beacon of progress, poised to redefine the transportation landscape of the region.

Key figures present at the event included Rakesh Singh, Additional Chief Secretary, Urban Development Department; Dr. Manjula N, Secretary, Infrastructure Development Department & MD, K-RIDE; Wolf Muth, Country Director, KfW Development Bank, India; Ms Swati Khanna, Senior Specialist, Urban & Mobility, KfW Development Bank, India; Mr. Achim Burkart, Consul General, Consulate General of the Federal Republic of Germany at Bengaluru; and Ms. Kanchi Arora, Sr. Advisor, German Consulate in Bengaluru.

  




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