BMRCL secures ₹3,000 crore loan for Namma Metro phase 2 completion

Bangalore Metro Rail Corporation Limited (BMRCL) has signed a ₹3,000 crore loan agreement, achieving full external financing for Namma Metro Phase 2.

The agreement was finalized with German investment bank KfW in New Delhi. Manisha Sinha, Additional Secretary, Department of Economic Affairs, and Caroline Gassner, Director (South Asia), KfW Germany, signed the deal on behalf of their respective organizations. BMRCL Managing Director M. Maheshwar Rao also formalized the agreement at KfW's office.

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Phase 2 of the metro spans 75.06 km and has secured ₹12,141.14 crore in loans from international agencies, including the Japan International Cooperation Agency, Agence Française de Développement, Asian Infrastructure Investment Bank, and the European Investment Bank. The project's original cost of ₹30,695 crore has now risen to ₹40,614.27 crore due to delays, additional land requirements, and other factors.

Meanwhile, the Karnataka Cabinet has approved pre-planning for Phase 3, which will include a 36.59 km metro line from Sarjapur to Hebbal, estimated to cost ₹28,405 crore. The plan features a 22.14 km elevated section with 17 stations and a 14.45 km underground section with 11 stations. Construction will commence after receiving central government approval.

These measures aim to bolster the city's infrastructure and meet its growing urban demands.