The German state-owned investment and development bank KfW Bankengruppe has committed to fund €500 million (Rs 4,000 crore) for the Bengaluru Suburban Rail Project (BSRP).
Sources in the Rail Infrastructure Development Company (Karnataka) Limited, known as KRIDE, said officials worked for the last six months to get necessary clearances and present the project to international funding agencies. Pre-appraisal missions visited the city and conducted spot assessments in March.
“We are looking for about €800 million funds. We have received a commitment of €500 million funds from KfW. We are looking forward to similar support from AFD (French Development Agency),” an official said.
Laying of the foundation stone for BSRP by Prime Minister Narendra Modi is expected to give the much-needed push. KRIDE is waiting for the board approval to award a civil work tender for the Baiyyappanahalli-Chikkabanavara line (Corridor 2). Larsen & Toubro has emerged as the lowest bidder for the project by quoting Rs 850 crore.
Tenders for the 41.4-km priority corridor connecting the airport, KSR Bengaluru-Devanahalli+Airport have been finalised and are set to be floated in the next few days.