ADVERTISEMENT
ADVERTISEMENT

REC Ltd to Provide 3,045 Cr Financial Assistance to BMRCL

The Namma Metro Phase-II project entails the extension of the two Phase-1 corridors, the East-West Corridor and the North-South Corridor
Indian Masterminds Stories

Bangalore Metro Rail Corporation Limited (BMRCL) will get financial support totalling Rs. 3,045 crores from REC Limited, a Maharatna Central Public Sector Enterprise under the Union Ministry of Power, for the building and development of metro lines as part of Bangalore Metro’s Phase-Il project. At the REC board meeting conducted in Bengaluru on June 24, 2023, where the board approved the proposal of BMRCL, the decision was made to extend the support.

The Namma Metro Phase-II project entails the extension of the two Phase-1 corridors, the East-West Corridor and the North-South Corridor, as well as the construction of two new lines, one from R.V. Road to Bommasandra and the other from Kalena Agrahara to Nagawara. Some of the city’s busiest and densest neighbourhoods will be crossed by these lines.

The project’s Phase-II will improve connectivity and reduce traffic in Bengaluru, a heavily populated city. Phase II’s completion (72.09 km) will bring the total length of the Namma Metro network to 114.39 km, with 101 stations.

An NBFC that specialises in financing and developing the power sector in India is called REC Limited. The financial support provided to BMRCL is a part of REC’s effort to finance infrastructure growth. REC Limited has been in business for more than fifty years since its founding in 1969. It offers financial support to the entire value chain of the power industry, including projects for generation, transmission, distribution, and renewable energy. In India, every fourth light is lit thanks to financing from REC.


Indian Masterminds Stories

Related Stories

News

nhrc-resized
ACC Extends Ex-IFS Bharat Lal's Tenure As Secy-General Of NHRC By One Year
ACC-Resized
ACC Extends IPS Tapan Kr Deka's Tenure As Director Of IB By One Year
IAS Wallpaper
Meghalaya: Several IAS Officers Transferred, Pravin Bakshi Made ACS, Invest Meghalaya Authority (IMA)
West bengal Government WB
WB: Several IAS Officers Reshuffled, Smaraki Mahapatra Made Secy, Mass Education Extension and Library Services
IPS resized
UP: Two IPS Officers Transferred, Akhilesh Kumar Made IG, EOW
telangana-govt-resized
Major Bureaucratic Shake-up In Telangana, IAS Amrapali Katta Made GHMC Commissioner
Indian Foreign Services ..
IFS Gopal Baglay To Be India's Next High Commissioner To Nauru
IAS
Andhra: IAS Peeyush Kumar Gets Repatriated To Home Cadre

Videos

WhatsApp Image 2024-06-24 at 12.53
Balancing Acts: Shatarupa Mishra's Journey as a Revenue Service Officer and Passionate Odissi Dancer
OP Singh
Making Of An Erudite IPS Officer
Hemant Pareek
Listening to Toppers Can Help Shape Your Own Strategy, Says Hemant Pareek
ADVERTISEMENT
Latest
Latest
Balika Panchayat IAS Minal
Empowering Girls through 'Balika Panchayat': A Transformative Initiative in Nanded, Maharashtra
nhrc-resized
ACC Extends Ex-IFS Bharat Lal's Tenure As Secy-General Of NHRC By One Year
ADVERTISEMENT
Videos
Videos
WhatsApp Image 2024-06-24 at 12.53
OP Singh
Hemant Pareek
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT