S Lalitha By

Express News Service

BENGALURU: The new Metro Policy unveiled by the Centre recently will have an immediate impact on the funding of the Rs 4,202-crore K R Puram-Silk Board Metro line, which is set to be fully completed through Innovative Financing Methods.

This 17-km line, called as Phase 2A, will have 13 stations that will cover the entire IT corridor on this side. This line as well as the Metro airport line from Nagawara to Kempegowda International Airport (Phase 2B) are additions to the 72.1-km Phase-II project that is estimated to cost Rs 26,405 crore.

Bangalore Metro Rail Corporation Limited Managing Director Pradeep Singh Kharola told Express, “Under the new policy, the Centre will now fund 10 per cent of the Outer Ring Road line. So, up to Rs 420 crore will be taken care of. This will definitely be a major encouragement for us.”

Asked if this amount would make a substantial difference to Metro, Kharola said, “We need to borrow less and pay less interest too if we need to arrange some funding for the project. This will clearly be amount saved for us.”

The ORR line, with a 2020 deadline, will have 13 stations at KR Puram (interchange with upcoming Purple Line), Mahadevpura, DRDO Sports Complex, Doddanakundi, ISRO, Marathahalli, Kodibeesanahalli, Kadubeesanahalli, Bellandur, Ibbalur, Agara Lake, HSR Layout and Silk Board (interchange with upcoming RV Road – Bommasandra line). It is expected to carry between 3 lakh and 5 lakh passengers a day. This policy is definitely a shot in the arm for the ORR line which has already generated much interest from corporate houses.

While the Embassy Group has signed an agreement to develop the Kadubeesanahalli Metro station for Rs 100 crore, Infosys has expressed interest to spend a similar sum for Electronics City Metro Station. Wipro will be adopting the Hebbagodi Metro station.

A spokesperson of the Urban Affairs Ministry in New Delhi told Express over phone that the policy will have its impact on projects that are still in the initial stage and will not touch fully approved projects like Metro Phase-II.

“All upcoming projects and future phases of Bangalore Metro as well as those of other Metro Corporations are set to get this kind of funding,” the official said. “They need to meet our conditions for this. They must plan for the last-mile connectivity from Metro stations when they present the project to us for funding,” he added. Going by the official’s view, Metro’s airport link could also get funding in future.

The biggest change in the policy is that the Centre has made the participation of the private sector mandatory if any Metro Corporation wants to avail this funding from the Centre. “This will reduce the dependency of Metro projects on the Centre. The additional impact will be the efficiency that a private player can bring into a project,” the spokesman said.