<p>Bengaluru: Authorities have secured the entire external funding for the Bengaluru Suburban Railway Project (BSRP), sparking hopes of expediting the long-delayed project.</p>.<p>Railway Infrastructure Development Company (Karnataka), K-RIDE, has secured Rs 7,438 crore (approximately €800 million) in foreign funding for the 149-km BSRP that will leverage Bengaluru’s vast railway network for intracity commute.</p>.<p>On June 14, 2024, the Ministry of Finance’s Department of Economic Affairs signed an MoU with the European Investment Bank (EIB) for a €300 million loan for the BSRP. The agreement was signed in the presence of DEA officials and EIB representatives in New Delhi, K-RIDE stated.</p>.Expressway, Mysuru dist under hitech traffic system from July 1.<p>According to K-RIDE, the agreement will facilitate tenders for Corridor 1, Depot 2, track and traction works, besides expediting the entire project.</p>.<p>In December 2023, a similar MoU was signed by the German investment bank KfW for a €500 million loan.</p>.<p>Well-placed sources in K-RIDE indicated that KfW and the EIB would release the funds against bills raised, as per the standard practice.</p>.<p>The €800 million loan accounts for 60% of the total project cost of Rs 15,767 crore. The union and state governments are contributing the remaining 40%.</p>.<p>The BSRP has four corridors and two depots. Groundwork has begun only on Corridor 2 (Mallige Line, 25.57 km), which runs from Benniganahalli to Chikkabanavar.</p>.<p>K-RIDE has also awarded the civil work contract for Corridor 4 (Kanaka Line, 46.88 km), which will connect Heelalige to Rajanukunte. Full-fledged groundwork is expected to begin shortly.</p>.<p>K-RIDE has begun pre-construction works for Corridor 1 (Sampige Line, 41.4 km), which will link Majestic with Devanahalli with a branch line to the Kempegowda International Airport.</p>.<p>Initial groundwork is also underway on Corridor 3 (Kengeri-Whitefield, 35.52 km) while K-RIDE is evaluating the financial bids to lease 306 coaches.</p>.<p>In addition, the agency recently invited tenders for the construction of eight stations (Benniganahalli, Kasturi Nagar, Seva Nagar, Banaswadi, Nagavara, Kanaka Nagar, Hebbal, and Mathikere) on the Mallige Line.</p>.<p>The BSRP is unlikely to meet the October 2025 deadline set by Prime Minister Narendra Modi. The Karnataka government is hopeful that the project will be ready by 2028.</p>.<p><strong>FUNDING Break-up</strong> </p><p>Total cost: Rs 15767 cr </p><p>State govt & Centre: Rs 2479 cr each </p><p>Foreign agencies: Rs 7438 cr (€800 mn) </p><p>KfW: €500 mn EIB: €300 mn </p>
<p>Bengaluru: Authorities have secured the entire external funding for the Bengaluru Suburban Railway Project (BSRP), sparking hopes of expediting the long-delayed project.</p>.<p>Railway Infrastructure Development Company (Karnataka), K-RIDE, has secured Rs 7,438 crore (approximately €800 million) in foreign funding for the 149-km BSRP that will leverage Bengaluru’s vast railway network for intracity commute.</p>.<p>On June 14, 2024, the Ministry of Finance’s Department of Economic Affairs signed an MoU with the European Investment Bank (EIB) for a €300 million loan for the BSRP. The agreement was signed in the presence of DEA officials and EIB representatives in New Delhi, K-RIDE stated.</p>.Expressway, Mysuru dist under hitech traffic system from July 1.<p>According to K-RIDE, the agreement will facilitate tenders for Corridor 1, Depot 2, track and traction works, besides expediting the entire project.</p>.<p>In December 2023, a similar MoU was signed by the German investment bank KfW for a €500 million loan.</p>.<p>Well-placed sources in K-RIDE indicated that KfW and the EIB would release the funds against bills raised, as per the standard practice.</p>.<p>The €800 million loan accounts for 60% of the total project cost of Rs 15,767 crore. The union and state governments are contributing the remaining 40%.</p>.<p>The BSRP has four corridors and two depots. Groundwork has begun only on Corridor 2 (Mallige Line, 25.57 km), which runs from Benniganahalli to Chikkabanavar.</p>.<p>K-RIDE has also awarded the civil work contract for Corridor 4 (Kanaka Line, 46.88 km), which will connect Heelalige to Rajanukunte. Full-fledged groundwork is expected to begin shortly.</p>.<p>K-RIDE has begun pre-construction works for Corridor 1 (Sampige Line, 41.4 km), which will link Majestic with Devanahalli with a branch line to the Kempegowda International Airport.</p>.<p>Initial groundwork is also underway on Corridor 3 (Kengeri-Whitefield, 35.52 km) while K-RIDE is evaluating the financial bids to lease 306 coaches.</p>.<p>In addition, the agency recently invited tenders for the construction of eight stations (Benniganahalli, Kasturi Nagar, Seva Nagar, Banaswadi, Nagavara, Kanaka Nagar, Hebbal, and Mathikere) on the Mallige Line.</p>.<p>The BSRP is unlikely to meet the October 2025 deadline set by Prime Minister Narendra Modi. The Karnataka government is hopeful that the project will be ready by 2028.</p>.<p><strong>FUNDING Break-up</strong> </p><p>Total cost: Rs 15767 cr </p><p>State govt & Centre: Rs 2479 cr each </p><p>Foreign agencies: Rs 7438 cr (€800 mn) </p><p>KfW: €500 mn EIB: €300 mn </p>