REC to provide Rs 3,045 crore finance to Bengaluru metro, Real Estate News, ET RealEstate

June 25, 2023

<p>File Photo</p>
File Photo

NEW DELHI: State-owned REC Ltd will provide finance of Rs 3,045 crore to Bangalore Metro Rail Corporation to develop 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 extension of two corridors of Phase-I and establishing 2 new lines from RV Road to Bommasandra and Kalena Agrahara to Nagawara.

The project will enhance connectivity and ease traffic in the city.

With 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.

  • Published On Jun 25, 2023 at 07:00 PM IST

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