The Union Cabinet approved three metro rail projects worth Rs 30,765 crore on Friday in the states of Karnataka and Maharashtra.
The Cabinet has approved two corridors of Bangalore Metro Rail Project Phase-3 worth Rs 15,611 crore and it will be operational by 2029. The first corridor will run from JP Nagar 4th Phase to Kempapura across 21 station and the second one will run between Hosahalli to Kadabagere across 9 stations.
The Phase-3 of Bangalore Metro Rail Project represents a significant advancement in the city’s infrastructure development. The Phase-3 acts as a major expansion of the metro rail network in the city, the statement said.
Phase-3 will add approximately 44.65 km of new metro lines, connecting the western part of Bengaluru that were previously underserved, it stated.
In a statement, the government said the Cabinet has also approved the Swargate-to-Katraj Underground Line Extension of the existing PCMC-Swargate Metro Line of the Pune Metro Phase-I project worth a total cost Rs 12,200 crore. This project will connect prominent areas like Naupada, Wagle Estate, Dongripada, Hiranandani Estate, Kolshet, Saket etc. The network will be operational by 2029 and will cover a total Length of 29 km of the ring corridor (26 km Elevated and 3 km underground) and will also include 22 stations.
The statement also said that the Union Cabinet approved the Thane Integral Ring Metro Rail Project Corridor. The 29-km corridor will run along the periphery of the west side of Thane city with 22 stations.
The network is encompassed by the Ulhas river on one side and the Sanjay Gandhi National Park on the other, it said.
This will provide sustainable and efficient mode of transport, facilitating the city to realise its economic potential and ease traffic congestion. The project is also expected to contribute to reduction of greenhouse gas emissions, the statement said.
“The estimated cost of the project is Rs 12,200.10 crore, with equal equity from Government of India and Government of Maharashtra as well as part-funding from bilateral agencies,” it said.
“Funds would also be raised through innovative financing methods such as by selling station naming and access rights for corporate, monetisation of assets, and value capture financing route,” the statement said.
The approval for the metro projects in Thane and Pune comes a few months ahead of the Maharashtra assembly elections, the poll dates for which are yet to be announced.
On the approval of two corridors of the Bangalore Metro Rail Project Phase-3, the government said the total completion cost of the project is Rs 15,611 crore.
(with PTI inputs)
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