German bank pledges Rs 4,000 cr for commuter train project

German state-owned investment and development bank KfW Bankengruppe has pledged to fund €500 million (Rs 4,000 crore) for the Bengaluru Suburban Rail Project (BSRP).

Sources from the Rail Infrastructure Development Company (Karnataka) Limited, known as KRIDE, said officials had been working over the past six months to get the necessary clearances and pitch the project to international funding agencies. Pre-assessment missions visited the city and carried out spot assessments in March.

“We are looking for around 800 million euros in funds. We have received a funding commitment of 500 million euros from KfW. We look forward to similar support from AFD (French Development Agency),” an official said.

The laying of the foundation stone of the BSRP by Prime Minister Narendra Modi should provide much-needed impetus. KRIDE is awaiting Board approval to award a Civil Works Tender for the Baiyyappanahalli-Chikkabanavara Line (Corridor 2). Larsen & Toubro became the lowest bidder for the project by quoting Rs 850 crore.

The tenders for the 41.4 km priority corridor linking the airport, KSR Bengaluru-Devanahalli+Airport have been finalized and are expected to be launched in the coming days.