Govt approves revise cost of B'lore metro

Cost now stands at Rs 11,609 crore as opposed to planned cost of Rs 8,158 crore

PTI | August 10, 2011



The centre on Tuesday approved the revised project cost of Banglaore Metro from Rs 8,158 crore to Rs 11,609 crore.

This was decided at a meeting by the empowered group of ministers on mass rapid transit system chaired by finance minister Pranab Mukherjee here.

Besides approving the revised project cost, it has also approved the extension of time for competion of the project from June 2011 to December 2013.

The EGOM, attended by senior officials including urban development secretary Navin Kumar, planning commission deputy chairperson Montek Ahluwalia and Banglaore Metro officials, has also approved the cost-sharing pattern as recommended by the empowered committee.

Karnataka would share addtional financial burden of Rs 1532.40 crore and the centre additional financial burden of Rs 684.86 crore. Rest of the escalated cost would be raised by Bangalore Metro Rail Corporation which is responsible for implementation of the project.
Karnataka and the centre will have equal equity in the Bangalore Metro poject.

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