STOCK MARKET BSE NSE

BMRCL asks Centre to fund 10% of Metro airport route

The Bangalore Metro Rail Corporation Limited (BMRCL) has formally submitted a detailed proposal to the Centre asking it to fund 10 percent of the cost of two of its crucial projects: the Metro link route from Nagawara to the Kempe Gowda International Airport (KIA) and the Outer Ring Road (ORR) route.

Published: 10th January 2018 05:00 AM  |   Last Updated: 10th January 2018 07:22 AM   |  A+A-

Express News Service

BENGALURU: The Bangalore Metro Rail Corporation Limited (BMRCL) has formally submitted a detailed proposal to the Centre asking it to fund 10 percent of the cost of two of its crucial projects: the Metro link route from Nagawara to the Kempe Gowda International Airport (KIA) and the Outer Ring Road (ORR) route.

Additional Chief Secretary, Urban Development, and BMRCL Managing Director Mahendra Jain met top officials of the Central government at New Delhi on Monday in this connection. The 29-km Nagawara to Kempe Gowda International Airport (KIA) line costs `5,950 crore while the ORR line from K R Puram to Silk Board (Phase-2A) running to 17 km costs Rs 4,202 crore.

Jain said, “We had submitted a similar proposal when Urban Development Minister Hardeep Singh Puri visited the city last month. A request to expedite the proposal has now been made by us and we have received a positive response.”

Under the new Metro Rail Policy, the Centre will fund 10 per cent of the cost of new Metro projects subject to the proposal fulfilling numerous conditions stipulated by it. “We are confident of getting the funding at the earliest as we fulfil all the norms required,” Jain added.

On the status of the proposal regarding the imposition of a User Development Fee for passengers travelling from KIA airport in order to fund `1,000 crore of the cost of the airport link, the MD said, “It has been sent to the Centre sometime ago. We are awaiting their response.” The ORR line will be the first Metro line to be built on the Innovative Financing model with top corporate concerns already expressing their interest to fund different stations along the route.

BMRCL smashes revenue record, earns B1.11 cr

BMRCL clocked its highest revenue collection on Monday (January 8) by earning a fare revenue of Rs 1,11,18,562. “This is our highest revenue so far,” said the BMRCL MD. While the Purple Line helped it earn over Rs 58.6 lakh, the Green Line contributed over Rs 52.57 lakh, he said. The ridership on both lines stood at 3,81,536, he said.  Executive Director, Operations and Maintenance, BMRCL, A S Shankar said that 171 additional trips were run on the East-West Line while 123 trips were run on the North-South Line overall.

Stay up to date on all the latest Bengaluru news with The New Indian Express App. Download now

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp