BENGALURU: In a major push towards securing finance for the Bengaluru Suburban Rail Project (BSRP), the largest multilateral financial institution in the world, the European Investment Bank (investment bank of the European Union), has given its nod for a loan of Rs 2693 crore (300 million Euros) for the project.
In another significant development, the first step has been taken towards building the longest corridor of the suburban rail - the Heelalige-Rajanakunte line.
Rajesh Kumar Singh, Director, Projects and Planning, of Rail Infrastructure Development Company (Karnataka) Limited, which is implementing the project, told TNIE, “The EIB has given its in-principle nod for the project for 300 million Euros on Wednesday (May 8). With this approval, the loan component for the Rs 15,767-crore suburban rail project has been fully mobilised. The project is funded 20% each by the Karnataka government and the Centre, while 60% needs to be procured through loans.”
The other major lender for the BSRP is Germany's KfW Development Bank with which a loan agreement was inked on December 15, 2023, for Rs 4,552 crore (500 million Euros) and a grant of Rs 40.96 crore (4.5 million Euros).
L&T installs barriers
Of the four corridors of the 148.1 km project, two have been awarded to Larsen & Toubro Limited -- the fourth corridor or the Kanaka Line (Heelalige to Rajanakunte, 46.8 km) and the second corridor or the Mallige Line from Benniganahalli to Chikkabanavara running to 25 km.
A little over 20% of the construction work has been completed in the Mallige Line by L&T.
The first step towards beginning work on the Kanaka Line was taken on Tuesday (May 7) by barricading the railway line. “Preliminary work like soil testing and re-surveying was done by the contractor in the last four months. To start the project, five minor bridges would be constructed along this route and the barricading has been done in this connection,” he said. The contract, awarded on December 30, 2023 has a deadline of 30 months.
Contract for the first corridor or Sampige Line (41 km) from KSR Bengaluru-Devanahalli via Yelahanka will be partially awarded after the model code of conduct is lifted. “We initially plan to award the contract from KSR to Yelahanka via Yesvantpur shortly. We have submitted a proposal to the Railways to get their clearance for the alignment,” Singh said.
The third corridor or Parijaata Line (35 kms) from Kengeri to Whitefield will be awarded a month following that, he added.