New Delhi: State-owned REC Ltd will provide finance of Rs 3,045 crore to Bangalore Metro Rail Corporation to develop the Phase-II project in Bengaluru. REC approved a proposal in this regard at a board meeting held on Saturday, a company statement said.
Phase-II project comprises the extension of two corridors of Phase-I and establishment of two new lines from RV Road to Bommasandra and Kalena Agrahara to Nagawara. The project will enhance connectivity and ease traffic in the city.
With the completion of Phase-II (72.09 km), the combined network of Bangalore Metro will be 114.39 km, with 101 stations. REC is an NBFC focusing on power sector financing and development across India.
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