Phase-2 metro rail might get financed by a German bank
German bank, KFW, keen to finance up to Rs 4,500 crore for Phase-2. Bangalore Metro Rail Corporation Limited (BMRCL), the agency implementing the metro rail project in Bangalore, is likely to miss yet another deadline for the completion of first phase of the project. The 42.3-km stretch of Phase-1 will now be completed only by the first quarter of 2016, instead of September 2015.
The corporation, which has pushed deadlines for completion for close to two years, had set a deadline of September 2015 for the Phase-I. However, due to problems in the underground section, the corporation has pushed the deadline once again to the first quarter of 2016. The cost of the project, estimated at Rs 11,609 crore has also been revised to Rs 13,800 crore.
The tunnel boring machine (TBM) on the north-south corridor recently broke down and the works will now be completed on this line in the first quarter of 2016. The east-west corridor will be completed by March 2015, B G Mallya, chief engineer-traction, BMRCL, said. Making a presentation on the Bangalore Metro rail project at a workshop organised by the Embassy of Sweden on the Way to Sustainable Transport an Indo-Swedish Perspective, here on Monday.
Source: Business Standard
Bangalore Metro Rail Corporation Limited, Bangalore Metro Rail project, BMRCL, chief engineer-traction, KFW, Tunnel Boring Machine
