B’lore Metro project phase-II bids likely to be floated by Mar 2010

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Bangalore: Work of the Bangalore Metro Rail project Phase-II is estimated to cost around Rs 28,000 crore and the first round of tenders is expected to be floated by March 2010.

Talking to FE, Bangalore Metro Rail Corporation Ltd (BMRCL) managing director N Sivasailam said the Delhi Metro Rail Corporation Ltd (DMRCL) has been preparing the detailed project report (DPR) for the Phase-II Bangalore Metro project. DMRCL, which prepared DPR for Phase-I, has been appointed by the state government as the consultant for Phase-II too.

The Delhi Metro is expected to submit the DPR by September to BMRCL, which inturn will submit the final DPR to state and central government for Cabinet nod. “The approvals from the state and central governments are expected to be through between January and March 2010. Hopefully we will float 2-3 tenders to start work of Phase-II Bangalore Metro project by March next year’’, he said on the sidelines of Ficci organised Real Estate and Infrastructure seminar here.

He said the Phase-II would cover around 180 kms that include 30 km underground stretch and the remaining part would be elevated.

However he did not disclose about the funding pattern. “The fund raising episode would come after finalising the DPR,” he said. However he indicated that it would be a mixture of equity from state and Centre, subordinate debts, loans from foreign agencies like Japan Bank of International Cooperation and local financial institutions FIs.