The Cabinet on Thursday approved the Bangalore Metro Rail Project Phase-2 to improve the public transport system in the city and provide the much needed additional public transport infrastructure for the city. The total completion cost of the project is estimated at Rs26,405.14 crore at the price levels of 2011-12 with price escalation of 5 per cent per annum (including escalation and Central taxes and excluding State taxes and duties).
In the total project cost, the Government of India’s (GoI) share will be Rs5,281 crore and the Government of Karnataka’s (GoK) share will be Rs8,983 crore. The share of the GoK includes a Grant of Rs1,689.90 crore. The balance amount of Rs12,141.14 crore will be raised through Senior Debt.
