NEW DELHI (Metro Rail News): Bangalore Metro Rail Corporation Limited (BMRCL) will receive financial assistance of ₹3,045 crores from REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power. This assistance will support the development of Metro Lines in Phase II of the Bangalore Metro project. The decision to provide financial assistance was approved by the REC board during a meeting held in Bengaluru on June 24, 2023.
The Namma Metro Phase-II project entails the expansion of the two Phase-I existing corridors, the East-West Corridor and the North-South Corridor; as well as two new lines, one from R.V. Road to Bommasandra and the other from Kalena Agrahara to Nagawara. Some of the city’s busiest and densest neighbourhoods will be crossed by these lines.
The completion of Phase II, covering a distance of 72.09 km, will significantly improve connectivity and reduce traffic congestion in Bengaluru. The total length of Namma Metro, after Phase-II, will be 114.39 km, with 101 stations.
REC Limited is a non-banking financial company that specializes in financing and developing projects in the power sector across India. The financial assistance provided to BMRCL is part of REC’s efforts to support infrastructure development. With over fifty years of experience, REC offers funding for various power sector projects, including generation, transmission, distribution, and renewable energy.
