Railways to give land on Rs 1 lease

Piyush Goyal

Railway Minister Piyush Goyal and Karnataka CM HD Kumaraswamy announced that an agreement on forming a special purpose vehicle (SPV) for suburban railway project in Bengaluru. As part of the agreement, Railway Board will give 650 acres of its land at Re 1 per acre, and in turn, Karnataka government will bear partial costs of doubling two lines, estimated to cost Rs 1,700 crore. The rail network connecting 82 stations spread over 160 km costing Rs 23,000 crore will be completed in six years. As part of the project, Kempegowda International Airport to be connected to the city via the suburban rail system. Out of the 83 stations, 12 including Majestic will have intermodal connectivity with Bengaluru Metro.

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