German bank KfW to fund ₹4,000 crores for Bengaluru Suburban Rail Project

Naomi Pandya Posted on: 2022-06-30 08:13:00 Viewer: 2,674 Comments: 0 Country: India City: New Delhi

German bank KfW to fund ₹4,000 crores for Bengaluru Suburban Rail Project (Image for representative purpose only)

Bengaluru, India (Urban Transport News): German Bank KfW Bankengruppe has committed to provide an ODA loan of €500 million (approx. Rs 4,000 crore) for the 148-km Bengaluru Suburban Rail Project (BSRP). The project implementing body Rail Infrastructure Development Company (Karnataka) Limited (KRIDE) said that it worked for the last six months to get the necessary clearances and present the project to international funding agencies.

KfW's pre-appraisal missions visited the city and conducted spot assessments in March.  “We are looking for about €800 million funds. We have received a commitment of €500 million funds from KfW. We are looking forward to similar support from AFD (French Development Agency),” an official said, DH reported.

K-RIDE is now waiting for the board-level approval to award a civil work tender for the Baiyyappanahalli-Chikkabanavara line (Corridor 2) for which Larsen & Toubro (L&T) has emerged as the lowest bidder for the project by quoting Rs 850 crore.

Tender notices for the 41.4-km priority corridor connecting the KSR Bengaluru-Devanahalli and Airport have been finalized and are set to be floated in the next few days, sources said.

Prime Minister Narendra Modi laid the foundation stone for the project on June 20, 2022. The estimated cost of the project is Rs 15,767 crore and the priority corridor is scheduled to complete by 2026.

Bengaluru Suburban Rail Project Summary

  • Total Length: 148.17 km (55.40 km - Elevated, 92.60 km - At Grade)
  • Project Cost: Rs 15,767 crore 
  • Equity: Rs 2,479 crore each of Ministry of Railways and Government of Karnataka
  • Subordinate Debt: Rs 2,608 crore (Govt. of Karnataka), Rs 763 crore (Govt. of India) and Rs 7,438 crore (Loan from External Agency) 
  • Project Completion Timeline: Six years

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