Suburban train project at cost of Rs 18,600 cr will be implemented in B'luru: FM

Bengaluru: Union finance minister Nirmala Sitharaman on Saturday announced Rs 18,600 crore for the much-delayed suburban railway project as an alternative mass transit solution to decongest Bengaluru. The Centre will provide 20% equity for the project.

“Suburban train project at a cost of Rs 18,600 crore will be implemented in Bengaluru. The Centre will contribute 20% of the funding and give external funding assistance of up to 60% of the cost,” said the Finance Minister, who also represents Karnataka in the Rajya Sabha.

The announcement comes a month after the Centre had said it will give a nod to the Rs 17,000 crore suburban rail project after getting details from the Karnataka government.