Bangalore Metro is in need of more moolah

Bangalore Metro is in need of more moolah
TIMES NEWS NETWORK

Bangalore: The BMRC is in a fund-raising mode now, raising a bank loan of Rs 500 crore to meet the revenue gap for the project as envisaged in the project report.
The decision was taken at the recent board review meeting held under the chairmanship of Union secretary for urban development M Ramachandran. According to BMRC sources, four-five banks and financial institutions have been shortlisted and will be finalized depending on the rate of interest. The acceptance of landvaluation report for about 200 properties required for the Hesaraghatta to Yeshwantpur and R V Road to Puttenahalli stretches was also discussed at the meeting.
Meanwhile, the Delhi Metro Rail Corporation has also been engaged as prime consultant to technically review and advice the BMRC on cost estimates andreview of tender documents among others. These are a few directions given based on the review of the project so far:
Plan for operations of the Byappanahalli to MG Road elevated stretch with 6 stations by end of 2010.
All stretches to be fully functional by end of 2012.
Coordinated approach with BMTC for feeder services integration proposed at Majestic, Byappanahalli, Peenya and Banashankari.
Integration with KSRTC at Majestic, Byappanahalli, Peenya and Mysore Road terminal Possible integration with railways at Bangalore City, Yeshwantpur and Byappanahalli stations. Time-bound action to amend the underground section contract and closely monitor rolling stock procurement. Timely steps for property development to generate income for supporting Metro operations.