Bengaluru: The Bangalore Metro Rail Corporation (BMRC) metro elevated corridor project will cross up the budget line. The agenda was first kept in cold for about two years. The Bangalore metro rail project is now coming into light and now believed that this inter-connected corridor project will cost higher.
For 95 km inter-connected corridor which includes six elevated corridors. This requires a huge investment minimum Rs 33,600 crore. Recently, the chief minister HD Kumaraswamy incorporated the cost of the project at Rs 15,825 crore. Apparently, this figure will not acquire the cost of land for the corridor that they already had which is about 152 acres of land. The Government estimated Rs 33,600 crore for this huge project which is quite expensive and could cross the budget
The budget also concludes 100 charging units and that will be most effective for electronic vehicle and proposed 80 electric buses. The government will initiate the project of a hybrid annuity model in which 60% of the cost will bear by the private firms. The private players will have selected by the bidding process and they have to incur the 60% cost of equity and debt.
For Bangalore Metro Rail Corporation (BMRC), the state government will bear the land acquisition cost otherwise the construction cost is raised from different sources. The responsibility of the project is given to The Karnataka Road Development and they agree land acquisition is the biggest task.
The official from the corporation stated that the corporation is finding difficulties in acquiring land and it cost much more than project cost.
The details related to the elevated corridor project will be kept in the public domain so as to maintain transparency between citizens and experts.
The corporation had made the pre-feasibility report and environment impact assessment study. Both documents will be shared on a website the official website so that experts could have the full updates about the project.