<p>The Scomi Geodesic Consortium (SGC), the proponent of the 60-km Bangalore Monorail project, announced that it has signed an MoU for financial partnership with IERS (ITNL Enso Rail System Ltd), a subsidiary company of IL&FS Transportation Network Limited (ITNL).<br /><br />The MoU provides the consortium with the required financial capability. A first-of-its-kind project, it is a Public Private Partnership (PPP) under the Swiss Challenge Procurement process, and is awaiting final guidelines from the Karnataka Government.<br /><br />The 60-km Monorail project is aimed at decongestion of Bangalore Central Business District (CBD) and connects Railway and Metro stations, TTMCs, schools, colleges, hospitals, etc. <br /><br />The four-phase project begins with a 16-km Green Line connecting Majestic and Agara Lake. It will serve as a feeder to Bangalore Metro creating additional transit capacity. <br /><br />Three lines<br /><br />SGC has jointly proposed to design, build, own, operate and transfer the three monorail lines at an estimated first phase cost of around Rs 2,500 crore.<br /><br />“We are delighted to partner with a reputed financial institution like IERS and aspire to help create this much needed infrastructure for Bangalore,” says Kanesan Vellupillai, President, Scomi International.<br /><br />Srinidhi Anantharaman, MD, Geodesic Techniques (GT) said the MoU marked a major milestone for the consortium. Sumitra Iyengar, Director-Infrastructure of GT added that they were proud to be associated with IERS and will seek the State Government’s support in moving the project forward.”<br /><br />Sanjiv Rai, MD, IERS said they were excited about the opportunity to bring relief to Bangalore’s commuters. He added that Monorail system is a globally accepted feasible mode of transport.</p>
<p>The Scomi Geodesic Consortium (SGC), the proponent of the 60-km Bangalore Monorail project, announced that it has signed an MoU for financial partnership with IERS (ITNL Enso Rail System Ltd), a subsidiary company of IL&FS Transportation Network Limited (ITNL).<br /><br />The MoU provides the consortium with the required financial capability. A first-of-its-kind project, it is a Public Private Partnership (PPP) under the Swiss Challenge Procurement process, and is awaiting final guidelines from the Karnataka Government.<br /><br />The 60-km Monorail project is aimed at decongestion of Bangalore Central Business District (CBD) and connects Railway and Metro stations, TTMCs, schools, colleges, hospitals, etc. <br /><br />The four-phase project begins with a 16-km Green Line connecting Majestic and Agara Lake. It will serve as a feeder to Bangalore Metro creating additional transit capacity. <br /><br />Three lines<br /><br />SGC has jointly proposed to design, build, own, operate and transfer the three monorail lines at an estimated first phase cost of around Rs 2,500 crore.<br /><br />“We are delighted to partner with a reputed financial institution like IERS and aspire to help create this much needed infrastructure for Bangalore,” says Kanesan Vellupillai, President, Scomi International.<br /><br />Srinidhi Anantharaman, MD, Geodesic Techniques (GT) said the MoU marked a major milestone for the consortium. Sumitra Iyengar, Director-Infrastructure of GT added that they were proud to be associated with IERS and will seek the State Government’s support in moving the project forward.”<br /><br />Sanjiv Rai, MD, IERS said they were excited about the opportunity to bring relief to Bangalore’s commuters. He added that Monorail system is a globally accepted feasible mode of transport.</p>