Metro Rail News Online

Bangalore: Bangalore Metro Rail Corporation Limited (BMRCL) has invited tender for the first phase of the Vellara Junction to Shivajinagar project. This comes in wake of the BMRCL approaching European Investment Bank (EIB) seeking a green signal to float a tender for the tunnel network from Vellara to Pottery Town. The cost of the project is estimated at around ₹1,130.61 crore. The tender is invited for interested parties for the design and construction of underground structures covering a of 2.755 km at Vellara, M.G. Road and Shivajinagar in the Reach-6 line in Phase 2 of the metro rail project. As per the recent development, the tender will be floated in two packages in order to make bidding competitive and fair. The project is expected to completed in around three-and-a-half years. Mahendra Jain, MD, BMRCL shared that the tender for the second package will be invited soon. In both the packages the official shared that they will be employing five tunnel boring machines. Jain s...

New Delhi: Govt. of India and European Investment Bank (EIB) today signed the finance contract for lending of 300 million euros (about Rs 2,293 crore) for Bangalore Metro Rail Project phase-II. Bangalore Metro Rail Project Phase II is to be jointly financed by the EIB (500 million euros) and... Click here to see more https://goo.gl/ch2PCJ

Bengaluru: Namma Metro"s Phase II has received a shot in the arm with the European Investment Bank (EIB) granting a loan of about Rs 3,650 crore (500 million Euros). EIB is the leading financier for Phase II and the second international lender to fund the 72-km project. Bangalore Metro Rail Corporation Ltd (BMRCL) is expected to use this money for the construction of the 23-km Gottigere-Nagawara line, which consists of 12 underground and six elevated stations. The deal was approved on July 14 with a repayment period of 20 years. In 2015, French funding agency Agence Francaise De Development (AFD) extended a Rs 1,500-crore loan for Phase II. This is in addition to the Rs 810 crore that the AFD lent for the now complete Phase I. The total cost of Phase II is an estimated Rs 26,404 crore. Of this, the Centre and the State are granting Rs 5,281 crore and Rs 8,983 crore respectively. BMRCL has to raise Rs 12,140 crore in the form of debt. Three foreign lending institutions have backed ...