The Bengaluru Suburban Rail Project (BSRP), a 149-km commuter rail network that aims to connect the city with its outskirts, has received a major boost with a Rs 4,561 crore agreement signed with Germany’s KfW Development Bank on Friday.
The agreement was signed by Manjula, Managing Director of K-RIDE, the nodal agency for implementing the BSRP, and Wolf Muth, Country Director of KfW Development Bank, in the presence of Karnataka Industries Minister M B Patil.
According to the agreement, KfW would provide Rs 4,561 crore at 4 per cent interest for 20 years for the project, which is estimated to cost Rs 15,767 crore. The loan would be utilised for the works of Corridor-3 (Kengeri to Whitefield) station and viaduct, Corridor-4 (Heelalige to Rajanukunte) station work, Depot-1 (Devanahalli), S and T Signal and Telecom, PSD (platform Screen Door), AFC (Automatic Fare Collection), solar panel and security equipment, MMI (Man Machine Interface), among others.
Patil said that the government is committed to ensuring transparency and accountability in the utilisation of the loan proceeds and that robust monitoring mechanisms will be in place to track expenditure and ensure that funds are used efficiently to maximise socio-economic benefits for the citizens.
He also announced that the works on all four corridors of the BSRP will be completed by December 27, 2027, an extension of nearly 3.5 years after Prime Minister Narendra Modi promised to complete the works in 40 months by July 2022.
The BSRP, which was sanctioned by the Ministry of Railways in October 2020, will have 58 stations along four corridors. The project is funded through the equity contribution of the Government of India, the Ministry of Railways and external borrowing in the ratio of 20:20:60. The project’s foundation stone was laid by Modi on June 20, 2023.
The BSRP is expected to ease the traffic congestion in Bengaluru, which is one of the most densely populated and fastest-growing cities in India. The project will also provide affordable, reliable and sustainable mobility options for the commuters and reduce the carbon footprint of the city.
