Bangalore: Namma metro launched

Agencies

Bangalore, 20 October 2011: Union Urban Development Minister Kamal Nath inaugurated the much-awaited Bangalore metro at the M G Road station today. Apart from CM Sadananda Gowda, several Union and State ministers were present at the event.

 

The state-run Bangalore Metro Rail Corporation Ltd (BMRCL) began civil works in 2007 and executed Reach-1 in March 2011, 24 months behind the original schedule leading to a cost escalation of Rs.3,451 crore from the estimated cost of Rs.8,158 crore.

 

The first phase comprising two corridors will cover a total of 42.3 km across the city, with 18.1 km on east-west corridor and 24.2 km on north-south corridor, including 8.8 km underground in the city centre. There will be 41 stations.

 

Being built on public-private partnership model, with the state and central governments holding 15 percent equity each (Rs.1,224 crore), the project has 25 percent (Rs.2,040 crore) as subordinate debt and 45 percent senior term debt from Japan International Cooperation Agency (JICA).