Phase-II to extend Namma Metro by 72.09 km
REC Limited, a Maharatna Central Public Sector Enterprise under the Union Ministry of Power, has decided to extend financial assistance of Rs.3,045 crores to Bangalore Metro Rail Corporation Limited (BMRCL) for development of Phase-II Metro Lines.
The REC Board approved the BMRCL proposal on 24 June 2023.
The Phase-II project of Namma Metro comprises extension of existing two corridors of Phase-I, namely East–West Corridor and North–South Corridor; and 2 new lines, namely one from R.V. Road to Bommasandra and another from Kalena Agrahara to Nagawara.
These lines will traverse some of the densest and high-traffic areas of the city, the Ministry of Power said on 25 June 2023.
Phase-II of the project will enhance connectivity and ease traffic in the densely populated city of Bengaluru. With completion of Phase-II (72.09 km), the combined network of Namma Metro shall stand at a line length of 114.39 km, with 101 stations.
REC Limited, established in 1969, is an NBFC focusing on Power Sector Financing and Development across India. The financial assistance to BMRCL forms part of REC’s foray into funding infrastructure development. Fiinews.com
