REC Limited, a Maharatna Central Public Sector Enterprise under the Union Ministry of Power, has decided to extend financial assistance amounting to Rs 3,045 crore to the Bangalore Metro Rail Corporation Limited (BMRCL).
The assistance will be utilised for the establishment and development of metro lines under the Phase-II project of Bangalore Metro.
The decision to extend the assistance was taken at the Board meeting of REC, held in Bengaluru on 24 June 2023, at which the board approved the proposal of BMRCL, the Ministry of Power said in a statement on Sunday (25 June).
The Phase-II project of the Namma Metro, Bangalore’s rapid transit system, aims to expand the existing network by extending two corridors from Phase-I, namely the East-West Corridor and the North-South Corridor.
Additionally, two new lines will be constructed, one from R V Road to Bommasandra and another from Kalena Agrahara to Nagawara.
These new lines will traverse some of the city’s most densely populated and high-traffic areas, addressing the growing transportation needs of Bengaluru.
Upon the completion of Phase-II, which spans a length of 72.09 km, the combined network of Namma Metro will reach a line length of 114.39 km, encompassing 101 stations.