The Karnataka government has approved the detailed project report (DPR) for the 60km monorail network to ease traffic congestion in the Central Business District of Bangalore.
The state government has approved the detailed project report (DPR) for the 60km monorail network to ease traffic congestion in the Central Business District of Bangalore.
The DPR was prepared by Scomi Geodesic Consortium (SGC). On Tuesday, SGC brought in ITNL Enso Rail System Ltd (IERS), a subsidiary of IL&FS Transportation Network Limited (ITNL), as its financial partner for the project. The government has approved the first phase of the project, the 16-km long Green Line connecting Majestic to Agara Lake.
The project would be implemented as a public-private partnership (PPP) under the Swiss Challenge Procurement process. It is a first-of-its kind venture in the state.
With Bangalore Metro all set to hit the tracks, state government is now preparing to put monorail project on track by clearing the detailed project report (DPR) for 60 km of monorail network.
Just a few days ago, state infrastructure development department cleared the DPR prepared by Scomi Geodesic Consortium, the proponent of a 60 km Bangalore Monorail Project. The government is now preparing final guidelines for inviting global bids.
On Tuesday, Scomi Geodesic entered into an agreement with IERS (ITNL Enso Rail System Ltd), a subsidiary company of IL&FS Transportation Network Limited (ITNL) as its financial partner.
The MoU signifies a major milestone for the Monorail Project and provides the consortium with the financial capability required to execute the project. The proposed Bangalore Monorail would be implemented on public private partnership under the Swiss Challenge Procurement process and the model is the first of its kind in Karnataka. The project awaits final guidelines from the government of Karnataka.
With this, the consortium will also bid for implementing the project in the form of Design, Build, Finance, Operate and Transfer (DBFOT).
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