State-owned company REC Limited has announced that it will provide Rs 3,045 crore in financial assistance to the Bangalore Metro Rail Corporation Limited (BMRCL) for the Phase II metro project. REC Limited is a Maharatna Central Public Sector Enterprise under the Union Ministry of Power and focuses on power sector financing and development across India. The decision to provide financial aid was taken at a board meeting of REC held in Bengaluru on Saturday.
The Phase-II project, also known as Namma Metro, will extend the existing two corridors of Phase-I, the East-West Corridor and North-South Corridor. It will also introduce two new lines from R.V. Road to Bommasandra and Kalena Agrahara to Nagawara, which will traverse some of the densest and high-traffic areas of Bangalore. Upon completion of the Phase II project, Namma Metro combined network will stand at 114.39 km with 101 stations.
Bangalore Metro, renamed Namma Metro, currently provides services across a total of 69.66 kilometres – the East-West corridor of 39.34 km from Krishnarajapura to Whitefield (Kadugodi) Metro Station and a North-South corridor of 30.32 km, commencing at Nagasandra in the North and terminating at Silk Institute in the South.
The financial aid provided by REC Limited will enable the comprehensive expansion and growth of the Bangalore Metro network. The company focuses on providing financial assistance for power sector projects and initiatives across India, and the extension of support to the BMRCL shows its commitment to the development and growth of India’s infrastructure sector.
The funding extended by REC Limited will help in establishing and developing the lines under the Phase-II metro project and facilitate travel and transport in one of the busiest cities in India. With its commitment to the expansion and development of the power sector and infrastructure in India, REC Limited’s financial assistance is likely to contribute to the development and growth of the country’s economy.
The financial assistance extended by REC Limited to BMRCL for the establishment and development of lines under the Phase-II metro project is expected to boost connectivity and mobility in Bangalore, one of the fastest-growing cities in India. It is a welcome development for the city and will provide a significant impetus to the growth of the city’s infrastructure and economy.
