Bengaluru: The Bangalore Metro Rail Corporation Limited (BMRCL) is now eyeing greater investment from private companies. The metro rail corporation is trying to reach out to interested companies to fund metro rail projects. Recently Infosys Foundation has agreed to offer Rs 200 crore for the development of Konappana Agrahara station (Electronic City-2).
Bangalore Metro Rail Corporation Ltd is reaching to corporate houses to fund metro projects like the Outer Ring Road that fall under the tech corridors. This partnership works out as a perfect win-win situation for both the BMRCL and the companies.
The companies investing in the metro project get lot of advantages like reduced traffic congestion in the locality where their office is situated. Besides, it also means better and safer traffic congestion for commuters. These companies also get an opportunity to be part of the metro project and infrastructure development taking place in the city.
In lieu of the funding, BMRCL on their part offer retail space at the metro station for 30 years. The metro corporation also offers advertisement and naming rights. The funding companies only have to abide by the specifications by BMRCL with regards to maintenance of the station.
The stretch between Silk Board Junction and KR Puram along ORR which is 4,200 crore elevated line spanning 17 km will be the first such metro project that would be employing an innovative financing formula. The cabinet has stated earlier while approving the ORR metro project that around Rs 1,100 would have be raided using innovative financing method. It is expected that the tender for the ORR metro line would be finalised at the earliest.
On the other hand the RV Road Station to Bommasandra which is 19.6km stretch, is heading towards meeting its deadline. Work is in full swing and the project is on schedule. The Bangalore metro elevated rail network project rail project on this stretch is likely to complete by 2021 at an estimated cost of Rs Rs 1,794 crore.