New Delhi: REC Limited, a Maharatna Central Public Sector Enterprise under the Union Ministry of Power, has decided to provide financial assistance of Rs. 3,045 crores to Bangalore Metro Rail Corporation Limited (BMRCL), for the development and establishment of Metro Lines under Phase-II project of Bangalore Metro.
The decision to extend the assistance was taken at the board meeting of REC, held in Bengaluru on June 24th, 2023, where the Board approved the proposal of BMRCL.
The Phase-II project, known as Namma Metro, includes the extension of existing two corridors of Phase-I, the East–West Corridor and North–South Corridor, and two new lines, one from R.V. Road to Bommasandra and another from Kalena Agrahara to Nagawara.
These lines will pass through some of the densely populated and high-traffic areas of Bengaluru, enhancing connectivity and alleviating traffic congestion.
Upon completion of Phase-II, the combined network of Namma Metro will be 114.39 km long, with 101 stations.
REC Limited, which provides financial assistance to the complete power sector value chain, including Generation, Transmission, Distribution, and Renewable Energy, is an NBFC focusing on Power Sector Financing and Development across India.
The financial assistance to BMRCL is part of REC’s funding infrastructure development and illuminates every fourth bulb in India. Established in 1969, REC Limited has completed over fifty years of operations.
