Bengaluru: Finally A Big Rs 1,000 Crore Boost By State Government To Expedite Outer Ring Road, Airport Metro Lines


Bengaluru: Finally A Big Rs 1,000 Crore Boost By State Government To Expedite Outer Ring Road, Airport Metro Lines

In an impetus towards expediting the implementation of ORR and airport metro lines under Phases 2A and B in Bengaluru, the Karnataka government has released nearly Rs 1,000 crore for the projects, Deccan Herald has reported.

The state government released the funds towards equity and subordinated debt, just days before the Centre is set to provide its final approval for the metro lines.

As per the equity sharing funding model rolled out as part of Union government’s metro policy in 2017, metro projects will be taken up under equal ownership of Central and State Government concerned through equal sharing of equity.

The Union government will provide financial support to metro rail projects in the form of equity and subordinate debt (for part of taxes) Read more

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