BENGALURU: Bangalore Metro Rail Corporation Limited (BMRCL) is set to seek the State government’s approval for the final Detailed Project Report (DPR) of Phase 3, submitted to it by the Rail India Technical and Economic Service (RITES) Limited, a consultancy of the Ministry of Railways. BMRCL has estimated that the 44.65-km elevated project would cost over Rs 13,000 crore and have a ridership of 4.65 lakh passengers per day when it becomes operational in 2028.
The final round of discussions was held by BMRCL on Wednesday, BMRCL Managing Director Anjum Parwez told TNIE. “We will send the DPR to the State government shortly, and it would send it to the Centre for its consent,” he said.“Phase-3 is estimated to cost over Rs 13,000 crore with the calculation made as per present (2022) rates. However, by the time of completion in 2028, the cost would be much higher due to escalation in construction cost and material, among other aspects,” the MD said.
BMRCL has not made any change in alignment in the two corridors proposed by RITES in its final DPR: Corridor One for 32.15km from JP Nagar IVth Phase to Kempapura, with 22 stations, and Corridor Two for 12.5km from Hosahalli to Kadabgere on Magadi Road, with 9 stations.
“We conducted studies and are projecting a ridership of 4.65 lakh per day on both the corridors in 2028,” he said. Asked about the financial model, the MD said options were being presented by BMRCL and the Ministry of Housing and Urban Affairs and the Ministry of Finance would take the final call.
An official said these were the three financial options proposed -- a Special Purpose Vehicle model wherein the State and Centre would fund 20 per cent each and the remaining 60 per cent would be mobilised through loans; a Viability Gap Funding Scheme (PPP model) wherein the State and Centre would again fund 20 per cent each, and the remainder would be mobilised by private parties, and the Grant model wherein the Centre would offer 10 per cent of the project cost as a grant, and the State would take steps to arrange the remainder.