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.
Currently the BMRCL has been implementing the Phase-I Bangalore Metro project covering 42.30 kms at a cost of Rs 8,158 crore (Rs 6,395 crore for 33 kms as per original plan and Rs 1,763 crore for track extension). The Phase-I is expected to be completed by September 2012.