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Economy News

News on Indian Economy and Sectors, which have impacts in the market.

 
Cabinet approves two corridors of Bangalore Metro Rail Project Phase-3 project
16-Aug-24 21:06Hrs IST

The Union Cabinet, chaired by the Prime Minister Narendra Modi, approved the Phase-3 of Bangalore Metro Rail Project with two elevated corridors for a length of 44.65 Km with 31 stations.Corridor-1 from JP Nagar 4thPhase to Kempapura (along Outer Ring Road West) for a length of 32.15 Km with 22 stations and Corridor-2 from Hosahalli to Kadabagere (along Magadi Road) for a length of 12.50 Km with 9 stations.

On operationalization of Phase-3, Bengaluru city will have 220.20 Km of active Metro Rail Network. The total completion cost of the project is Rs 15,611 crore.

The Phase-3 of Bangalore Metro Rail Project represents a significant advancement in the city's infrastructure development. Phase-3 acts as a major expansion of the Metro Rail Network in the city.

Phase-3 will add approximately 44.65 Km of new metro lines, connecting the western part of the city of Bengaluru that were previously underserved. Phase-3 will integrate key areas of the city which includes Peenya Industrial Area, IT industries on Bannerghatta road and Outer Ring Road, Textile and Engineering items Manufacturing units on Tumkuru Road and ORR, Bharat Electronics Limited (BEL), Major educational institutions like PES University, Ambedkar College, Polytechnic College, KLE College, Dayanandsagar University, ITI etc. Phase-3 corridors also provide connectivity to the Southern part of the city, Outer Ring Road West, Magadi road and various neighbourhoods, enhancing overall connectivity in the city. Improved last mile connectivity to commercial centres, industrial hubs, educational institutions, and healthcare facilities will facilitate better access for residents.

Reduced travel times and improved access to different parts of the city can enhance productivity by allowing individuals to reach their workplaces more efficiently. The construction and operation of Phase-3 will generate numerous jobs in various sectors, from construction workers to administrative staff and maintenance personnel. Also, the enhanced connectivity can stimulate local businesses, especially in areas near new metro stations which can also attract investment and development in previously less accessible regions.

Multi-Modal Integration is planned at 10 locations at JP Nagar 4th Phase, JP Nagar, Kamakya, Mysore Road, Sumanahalli, Peenya, BEL Circle, Hebbal, Kempapura, Hosahalli and provides interchanges with existing and under construction Metro Stations, BMTC Bus stands, Indian Railway Stations, proposed Suburban (K-RIDE) Stations.

All the Phase-3 stations are proposed with dedicated bus bays, Pick up and drop off bays, Pedestrian Paths, IPT/Auto Rickshaw stands. BMTC is already running feeder buses to the operational metro stations and the same will be extended to the Phase-3 stations also. Parking facilities have been provided at 11 important stations. The existing stations of Phase-1 & Phase-2 are integrated with proposed stations of Phase-3.Direct connectivity through FoBs/Skywalks to two Railway stations (Lottegollahali and Hebbal). At Phase-3 metro stations, provision for bikes and cycles sharing facility has also been provided.

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