The State Cabinet accorded administrative approval for borrowing Rs 7,438 crore for the Bengaluru Sub-urban Rail project which is being implemented jointly by the Centre and state.
The funds would be borrowed by a special purpose vehicle (SPV) that has been constituted to implement the project, law and parliamentary affairs minister J C Madhuswamy told presspersons after the State Cabinet meeting held on Thursday.
The state and the Centre would contribute Rs 2,479 crore each while Rs 7,438 crore would be borrowed from lending agencies through the SPV.
The sub-urban rail project would connect four corridors – Bengaluru to Devanahalli (41.4 km and 15 stations), Byappanahalli to Chikkabanavara (25.01 km and 14 stations), Kengeri to Whitefield (35.52 km and 14 stations) and Heelalige to Rajanakunte (46.24 km and 19 stations) with total length of 148.17 kms.
The estimated cost of the project by the time of the completion would be Rs 18,621 crore.
It was decided to hand over the management of 12 high traffic density corridors in the city from Karnataka Road Development Corporation Limited to BBMP.
A sum of Rs 30.85 crore was approved for construction of students’ hostels in Jnanabharti campus of the Bangalore University in the city.
The State Cabinet also approved implementation of the women’s safety system in buses under the Nirbhaya Funds, which would include bus-surveillance system, the minister said.
The union ministry of women and child development had approved an action plan of Rs 56.07 crore to implement nine projects under the Nirbhaya scheme for installation of CCTV cameras on 5,000 BMTC buses, mobile application to approve functionalities on women safety, among other projects.