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Blog Entry# 2030653  
Posted: Oct 20 2016 (20:00)

1 Responses
Last Response: Oct 20 2016 (20:00)
Rail News
Commentary/Human InterestBMRC/Bangalore Metro  -  
Oct 19 2016 (07:10)   Funding Metro: Corporates propose, BMRC disposes?

rdb*^   131777 news posts
Entry# 2030653   News Entry# 283418         Tags   Past Edits
BENGALURU: While private companies have expressed interest in funding the proposed Metro link between Silk Board Junction and KR Puram along Outer Ring Road, the Bangalore Metro Rail Corporation (BMRC) has ruled out seeking private help to go ahead with the ambitious line.
At an infrastructure review meeting held last month, companies located along ORR had evinced interest in helping raise funds for the project in the presence of chief minister Siddaramaiah and large industry minister RV Deshpande. But the BMRC's move comes even as companies are actively involved in raising funds. The government, however, is non-committal.
government has not discussed private funding for the project. We are confident of raising money through innovative financing modes. There are loans coming from foreign banks too. But if private parties have any feasible proposal they can come forward and we will pursue it," Bengaluru development minister KJ George said.
The Outer Ring Road Companies Association (ORRCA) is in the process of talking to companies and builders if they would fund the project partially. ORRCA president Poornapragna GA, who was present at the last month's meeting, said: "We hope this kind of involvement will go a long way in speedy implementation of the project."
"While the details are being finalized, our understanding is that the companies and developers established in the ORR corridor will help fund the project in addition to the financial contributions from the government and lending agencies," Goldman Sachs, an ORRCA member, stated.
BMRC though is clear that it will not get the project running on a PPP mode as it is confident that it can borrow from the market and resort to innovative financing.
"We are not going for any PPP model to raise funds as we do not need to. Agence Francaise de Developement (AFD) has already sanctioned 200 million Euros for Phase II of the project," BMRC MD Pradeep Singh Kharola said. Innovative financing involves selling FSI to property owners along the route and tax free bonds, he added.
Another senior BMRC official wondered what's the need to create a PPP model to build and run a metro line when the BMRC has been tasked with the responsibility.
Developers not keen on funding
Property developers though ruled out the possibility of funding the capital intensive project. "None of the builders along ORR have projects of a size to get surplus. I don't think we have the capability to fund a Rs 4,000 crore project. Until, a particular builder who is building a township near the ring road or has a specific infrastructure development business model, this is not a feasible investment for builders," Suresh Hari, secretary, CREDAI-Karnataka chapter, said."We are all for the Metro link between Silk Board and Mahadevapura Junction as it would remove a number of bottlenecks and make travelling easy for techies and corporates along the road. There has been no talk within our circles even to fund the Metro partially or engage into a PPP model," he added.
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18-km line to have 13 stations
The 18-km line will have 13 stations and pegged at Rs 3,600 crore. It is said to go through HSR Layout, Agara Junction, Iblur, Bellandur, Marathahalli, Mahadevapura and connect to phase 1 at KR Puram having an interchange station. About 4,000 acres of land has already been acquired for having this futuristic station from Lowry Group of Institutions. Also, land has been acquired for the extension line to Whitefield.
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Oct 20 2016 (20:00)
gopalfirst   81 blog posts
Re# 2030653-1            Tags   Past Edits
sir, realli very very good,excellent,i am very very happy for 4000 eceras aquaired, purpose for silkboard to kr puram metro line sir, and you given strech[ 18 km, 13 stations list sir. ] i thanks who are giving fund[4000 crore for silkboard to kr puram metro line, please start work quickly.

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