Bangalore Metro on the right track

Bangalore Metro on the right track
Centre Gives Green Signal,Work May Start In April
The Times of India

Bangalore: The Bangalore Metro (Rail) has come one step closer to reality, with an official level green signal at the Centre for the Rs 6,207 crore project given on December 10.

The meeting, called “pre-project investment board (PIB)’’ meet, comprising officials from Union ministries of urban development, planning and finance has cleared the fiscal model. “We are aiming at a January-end deadline to complete financial closure and April for the start of construction,’’ the project’s special purpose vehicle Bangalore Mass Rapid Transit Limited (BMRTL) managing director K.N. Shrivastava told The Times of India.

The next step is formal clearances from the project investment board (PIB) and the cabinet committee on economic affairs. But with Union planning minister M.V. Rajashekaran plumping for the project and planning commission deputy chairman Montek Singh Ahluwalia evincing interest, these are expected to take place without much problem.

At the state level, however, there appears to be some amount of delay with the project file pending clearance from deputy chief minister Siddaramaiah. Officials said that with the ‘standard’ 4 per cent escalation costs for infrastructure projects, per day of delay cost the state over Rs 50 lakh.

Still, the state’s expenditure review committee has also cleared the project. With chief minister N. Dharam Singh giving another assurance that the Bangalore Metro will be cleared shortly, the project, badly needed to ease the city’s traffic congestion, appears sailing smooth.