Suburban rail project for Bengaluru costing Rs 23,000 cr finally approved by Centre and state thenewsminute.com

Railway Minister Piyush Goyal and Karnataka CM HD Kumaraswamy on Friday announced that an agreement has finally been reached between the state and centre on forming a special purpose vehicle (SPV) for the suburban railway project in Bengaluru. The announcement comes just ahead of the Lok Sabha poll dates being declared. As part of the agreement, the Railway Board will give 650 acres of its land at Re 1 per acre, and in turn, the Karnataka government will bear partial costs of doubling two lines, estimated to cost Rs 1,700 crore. Railway Minister Piyush Goyal and Karnataka CM HD Kumaraswamy on Friday announced that an agreement has finally been reached between the state and centre on forming a special purpose vehicle (SPV) for the suburban railway project in Bengaluru. The announcement comes just ahead of the Lok Sabha poll dates being declared. As part of the agreement, the Railway Board will give 650 acres of its land at Re 1 per acre, and in turn, the Karnataka government will bear partial costs of doubling two lines, estimated to cost Rs 1,700 crore.