Home CITY UPDATES Karnataka Cabinet approves borrowing of Rs 7438 cr for Bengaluru Suburban Rail...

Karnataka Cabinet approves borrowing of Rs 7438 cr for Bengaluru Suburban Rail Project

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BENGALURU:

The Karnataka Cabinet on Thursday gave administrative approval for borrowing Rs 7,438 crore for the Bengaluru suburban rail project, being implemented jointly by the Centre and the state governments.

The amount will be borrowed by a special purpose vehicle, which has been setup to implement the Bengaluru suburban rail project, Law Minister J C Madhuswamy said here.

Briefing newspersons about the Cabinet meeting, Madhuswamy said that while the Centre and the state will contribute Rs 2,479 crore each, Rs 7,438 crore will be borrowed from lending agencies through the SPV.

The much-awaited suburban rail project will cover four corridors – Bengaluru to Devanahalli (41.4 km and 15 stations), Baiyappanahalli to Chikkabanavara (25.01 km and 14 stations), Kengeri to Whitefield (35.52 km and 14 stations) and Heelalige to Rajanakunte (46.24 km and 19 stations) – with total route length of 148.17 km.

While the government had estimated the completion cost to be Rs 18,621 crore, it was subsequently reduced to Rs 15,767 crore after adopting the Public-Private Partnership model.

The loan guarantee for the borrowings under the SPV for the project will be shared equally by the state government and Ministry of Railways, according to sources.

The Cabinet also approved implementation of a women’s safety system in buses under Nirbhaya Scheme, which will include an in-bus surveillance system.

Madhuswamy said the Ministry of Women and Child Development had approved an action plan of Rs 56.07 crore to implement nine projects under the Nirbhaya scheme.

Installation of CCTV surveillance cameras for 5,000 buses, mobile application to improve functionalities on women safety and implementation of passenger information display in bus stops, are among the projects.

The total cost of these projects is Rs 40.92 crore, which will be implemented in buses run by the Bangalore Metropolitan Transport Corporation (BMTC). (Agency)

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