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EIB approves Rs 2693-cr funding for Bengaluru Suburban Rail project

Thursday, 16 May 2024
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The European Investment Bank (EIB) has approved a loan of Rs 2,693 crore for the Bengaluru Suburban Rail Project (BSRP). Under the financing structure, the project receives 20 percent funding each from the Karnataka government and the Central government, while the remaining 60 percent is secured through loans.

The existing BSRP project plan comprises four corridors with a total length of 148.17 km, with Larsen & Toubro being awarded contracts for two of them. These corridors include KSR Bengaluru City to Devanahalli (Corridor 1 - 41.4 km), Baiyappanahalli to Chikkabanavara (Corridor 2 - 25.01 km), Kengeri to Whitefield (Corridor 3 - 25.01 km), and Heelalige to Rajanukunte (Corridor 4 - 46.25 km).

With this approval, the loan component for the Rs 15,767-crore suburban rail project has been fully mobilised. Germany's KfW Development Bank is another significant contributor, having signed a loan agreement worth Rs 4,552 crore (500 million euro) along with a grant of Rs 40.96 crore (4.5 million euro) in December, 2023. The initiation of work on the Kanaka Line was marked by the barricading of the railway line on 07 May, 2024. Five minor bridges along this route will be constructed, with the deadline for completion set at 30 months from the contract awarded in December 2023. Pre-construction activities, such as survey, drone video, and GPR survey were completed.

Further, the contract for the first corridor (Sampige Line), covering 41 km from KSR Bengaluru to Devanahalli via Yelahanka, will be partially awarded after the lifting of the model code of conduct. We initially plan to award the contract from KSR to Yelahanka via Yesvantpur shortly.However, the contract for the third corridor (Parijaata Line), spanning 35 km from Kengeri to Whitefield, will follow a month later.

The 7.4-km stretch of Section IV along Corridor-2, extending from Chikkabanavara to Yeshwantpur, is slated to be the inaugural segment, with completion and commissioning scheduled for December 2025. Overall, Corridor-2 is anticipated to be fully operational by June 2026, while Corridor-4 is projected to be completed by December 2026. The remaining two corridors are on track to be finalised by December 2027.

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