Tuesday, November 5, 2024
HomeNewsRailway NewsREC to provide Rs 3,045 crore finance to Bengaluru metro

REC to provide Rs 3,045 crore finance to Bengaluru metro

Phase-II project comprises extension of two corridors of Phase-I and establishing 2 new lines from RV Road to Bommasandra and Kalena Agrahara to Nagawara.

State-owned REC Ltd will provide finance of Rs 3,045 crore to Bangalore Metro Rail Corporation to develop Phase-II project in Bengaluru. REC approved a proposal in this regard at a board meeting held on Saturday, a company statement said.

Phase-II project comprises extension of two corridors of Phase-I and establishing 2 new lines from RV Road to Bommasandra and Kalena Agrahara to Nagawara.

The project will enhance connectivity and ease traffic in the city.

With completion of Phase-II (72.09 km), the combined network of Bangalore Metro will be 114.39 km, with 101 stations.

REC is an NBFC focusing on power sector financing and development across India.

RELATED ARTICLES

Most Popular

Hot News