Europeans invest heavily in Namma Metro Phase II

European Investment Bank (EIB) previously, had two meetings with the Bangalore Metro Rail Corporation Limited (BMRCL). These two visits of the EIB officials turned out to be fruitful for BMRCL as the Luxemborg-based non-profit lending firm are all set to splurge ₹ 3700 crore on Phase II of Namma Metro.

The completion deadline for Metro Phase II is 2020 and it involves a 72.1 km stretch of lines. The Phase II is an extension of already existing Phase I with two extra lines.

“This is a big breakthrough for us. Of the `26,405 crore project, the EIB will be lending us `3,700 crore. The repayment period for the loan will be 20 years,” BMRCL Managing Director Pradeep Singh Kharola told New Indian Express.

“The visitors travelled by Metro trains and were impressed with the work done in Phase-I. They also evinced interest in funding a part of Phase-II.”

However, it is surprising that none of the Indian companies showed their interest in investing on Namma Metro Phase II as it is a national asset.

Why is it that every single time the organisations like BMRCL will have to seek for foreign help? Why won’t the Indian investors show up to lend their hand in building something that will lead to the development of the city and the nation at the same time?

Phase II of Namma Metro is likely to de-congest the entire stretch of Outer Ring Road traffic of Bengaluru and that is going to do a world of good to the commuters in the Silicon Valley of India.

Commuters between Silk Board junction and Hebbal, usually spend hours in traffic every single day during the weekdays. Thus Phase II of Namma Metro surely ease off the traffic clots on Outer Ring Road.

• Namma Metro
• European investors
• Bengaluru