Rail Infrastructure Development Company (Karnataka) Limited (K-Ride) on Friday signed a €500 million (₹4,552 crore) loan and €4.5 million (₹40.96 crore) grant agreement with KfW Development bank, Germany, in New Delhi for the Bengaluru Suburban Rail Project (BSRP).
According to the press release from K-Ride, this milestone agreement with the German bank will facilitate the invitation of Corridor 1, Corridor 3 and system tenders, further expediting the BSRP.
The flagship BSRP is being implemented by the K-Ride, a joint venture company of the Karnataka Government and the Ministry of Railways, to provide an environment friendly and cost-effective mass rapid transit system in the City. BSRP was sanctioned with the project completion cost of ₹15,767 crore with the loan component of ₹7,438 crore from the multilateral/bilateral financial institutions.
