Sep 5 2017 | India Opportunities

Karnataka Cabinet approves land acquisition cost escalation for Namma Metro Phase-II

Karnataka state Cabinet recently approved a cost escalation of Rs 2,000 crore for land acquisition for 72-km long Bangalore Metro Rail Project Phase II. The earlier estimation was Rs 4,000 crore is now revised to Rs 6,293 crore. European Investment Bank (EIB) has already granted loan of about Rs 3,650 crore for Phase II. The estimated cost of Phase II is Rs 26,404 crore. The Centre and the State would contribute Rs 5,281 crore and Rs 8,983 crore respectively. The remaining amount of Rs 12,140 crore will be raised by BMRCL in the form of debt.

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