New Delhi, Jan 30 IBNS | 10 months ago

The Union Cabinet on Thursday approved the Bangalore Metro Rail project phase-2.

The project will improve the public transport system in the city of Bangalore and provide the much needed additional public transport infrastructure for the city.

"'The total completion cost of the project is estimated at Rs.26,405.14 crore at the price levels of 2011-12 with price escalation of 5 percent per annum (including escalation and Central taxes and excluding State taxes and duties)," the government said in a statement.

In the total project cost, the Government of India's (GoI) share will be Rs.5281 crore and the Government of Karnataka's (GoK) share will be Rs.8983 crore.

The share of GoK includes a Grant of Rs.1689.90 crore.

The balance amount of Rs.12,141.14 crore will be raised through Senior Debt.

(Posted on 31-01-2014)

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