REC Ltd, a state-owned financial corporation specializing in power sector financing, has approved a financial package of Rs 3,045 crore for the development of Phase-II of the Bengaluru metro project. The expansion project aims to extend existing metro corridors and introduce new lines to enhance connectivity and ease traffic congestion in the city. Upon completion, the expanded metro network will cover 72.09 kilometers with a total of 101 stations. The funding from REC Ltd demonstrates the organization's recognition of the project's significance in improving urban transportation infrastructure.
In a significant development, the state-owned REC Ltd has agreed to provide a financial package worth Rs 3,045 crore to the Bangalore Metro Rail Corporation (BMRC) for the development of Phase-II of the Bengaluru metro project. This decision was reached during a board meeting held by REC on Saturday, as stated in a press release by the company.
Phase-II of the project aims to expand the existing metro network in Bengaluru by extending two corridors from Phase-I and introducing two new lines connecting RV Road to Bommasandra and Kalena Agrahara to Nagawara. The primary goal of this expansion is to enhance connectivity and alleviate traffic congestion in the city, which has been grappling with growing transportation demands.
Upon the completion of Phase-II, the Bangalore Metro will witness a substantial growth in its network, spanning an impressive 72.09 kilometers. The combined length of the metro lines will then total 114.39 kilometers, with a total of 101 stations spread across the city.
REC Ltd, a non-banking financial corporation specializing in power sector financing and development across India, has recognized the potential of the Bengaluru metro project and its significance in improving urban transportation infrastructure. By providing the substantial funding required for Phase-II, REC aims to contribute to the overall progress and development of the region.
The Bangalore Metro has emerged as a lifeline for the city's residents, providing a reliable and efficient mode of transportation. As Bengaluru continues to witness rapid growth and urbanization, the demand for an expanded and robust metro network has become increasingly evident. The Phase-II expansion will not only offer additional transportation options but also promote sustainable mobility and reduce dependence on private vehicles, ultimately leading to a greener and more accessible city.
The financial support from REC Ltd is expected to bolster the progress of the Bengaluru metro project and accelerate its completion timeline. The infusion of funds will enable BMRC to carry out essential construction and infrastructure development activities required for the Phase-II expansion. Moreover, this financial collaboration between REC and BMRC demonstrates the synergy between public and private entities in driving the growth of critical infrastructure projects in India.
With the successful implementation of the Phase-II expansion, Bengaluru will witness a transformative change in its transportation landscape. The extended metro network will enable commuters to travel seamlessly across various parts of the city, reducing travel times, easing congestion on roads, and improving overall connectivity. As one of the largest metro systems in the country, the Bengaluru metro project serves as a model for other Indian cities aiming to enhance their urban transportation infrastructure.
As the Phase-II project takes shape, the joint efforts of REC Ltd and BMRC are poised to make a lasting impact on Bengaluru's development trajectory, ensuring a sustainable and efficient transportation system for its growing population.
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