Cabinet clears Rs 27,000 cr for Bangalore metro phase-II

Bangalore, Jan 3: Karnataka government gave its green signal to take up second phase of Bangalore metro project of 72 kms at an investment of about Rs 27,000 crore. Speaking to reporters after a cabinet meeting, chaired by Chief Minister D V Sadananda Gowda, Water Resources Minister Basavaraj Bommai said the second phase is planned to be completed by 2017.

The first phase of about 42 kms is slated to be completed by next year-end. Higher Education Minister V S Acharya said the Cabinet also gave the go-ahead for improving 831 kms of 11 roads under the Karnataka State Highway Improvement Project (KSHIP), second stage, first phase, with a USD 351 million loan assistance from the World Bank.

It was also decided to establish a modern agriculture market on a 20-acre plot at Byatarayanapura here. It would have cold storage, grading and marketing facilities. Sobha Developers would be given the contract to develop this project, expected to be ready in two years. The government would spend Rs 105 crore for this project, while Sobha Developers would also make some investments, Acharya said.

A bus rapid transit system for the twin cities of Hubli-Dharwad also got the Cabinet nod. In this Rs 452 project, there would be two dedicated lanes for state-run buses plying between the two cities. The Cabinet also finalised the know partner and transaction advisor for the Global Investors' Meet scheduled for June this year, with Ernst & Young winning the contract, Acharya added.

PTI