The Karnataka government on Thursday agreed to give its share of the Bengaluru suburban train project cost from the state budget for fiscal 2019-20, an official statement said.
"The state government will clear the city's suburban train network's detailed project report (DPR) by Sunday and allocate funds for it in its budget to be presented in February," said a joint statement by the Chief Minister's Office and the South Western Railways (SWR) here.
The 161-km project is estimated to cost the Railways and the state a whopping Rs 19,499 crore, to be shared equally through debt and equity as a special purpose vehicle.
Details of the belated project were discussed at a meeting between state Chief Minister HD Kumaraswamy and SWR General Manager Ajay Kumar Singh along with top officials of the state government and the Railways.
The state-run engineering consultancy firm RITES prepared the DPR to expand the skeletal suburban train service across the city and connect with satellite towns around like Tumakuru, Hosur, Mandya, Rajankunte, Kolar and Whitefield in all the four (north, south, east and west) directions.
"The twin purpose of the suburban train service is to offer an efficient and economical commuting and connect the city with the satellite towns around," said Kumaraswamy on the occasion.
The SWR will part with 650 acres of its land for the project, while the state will release 150 acres of its land and buy another 150 acres from private owners at market value or Rs 2,130 crore as RITES suggested.
The rapid transit service will require 30 rakes of mainline electric multiple units (MEMU) to ferry commuters across the city and nearby satellite towns.
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