 "REC to provide Rs 3,045 cr finance to Bangalore Metro Rail Corporation")
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.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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