Bangalore Metro Rail Corporation to receive Rs 3,045 Crores Financial Aid from REC Limited
REC Limited has decided to provide financial assistance of ₹3,045 crores to the Bangalore Metro Rail Corporation Limited (BMRCL). A Maharatna Central Public Sector Enterprise under the Union Ministry of Power, REC Limited is all set to grant this fund for the establishment as well as the development of Metro Lines under Phase-II of the Bangalore Metro project.
The Phase-II project of Namma Metro encompasses the extension of the existing two corridors from Phase-I, namely the East-West Corridor and the North-South Corridor, as well as the construction of two new lines. The new lines will run from R.V. Road to Bommasandra and from Kalena Agrahara to Nagawara, cutting through some of the most densely populated and high-traffic areas of the city.
The implementation of Phase-II will greatly enhance connectivity and alleviate traffic congestion in Bengaluru, a city known for its dense population. Once completed, Phase-II will add 72.09 kilometers to the metro network, bringing the total length of Namma Metro to 114.39 kilometers with a network of 101 stations.
REC Limited, an NBFC focused on Power Sector Financing and Development across India, is extending its financial assistance to BMRCL as part of its foray into funding infrastructure development. With over fifty years of operations since its establishment in 1969, REC Limited provides financial support to the complete power sector value chain, including projects related to generation, transmission, distribution, and renewable energy. Notably, REC’s funding efforts power every fourth bulb in India.
