The state Cabinet on Wednesday cleared a proposal to provide Metro connectivity between and K R Puram and Central Silk Board Junction at a cost Rs 4,202 crore.
Briefing reporters after the Cabinet meeting, Law Minister T B Jayachandra said the 17-km stretch will be implemented under Metro Phase II (A). Work on 72-km Metro Phase II has already begun.
Phase I will be completed in April, he added. Jayachandra said the Cabinet decision to allot KIADB land on lease-cum-sale basis to the projects, taken up by PSUs established jointly by the state and the Central governments, will help BMRCL to implement Metro Phase II.
BMRCL is planning to mobilise resources for Metro Phase II project by selling land allotted for Phase I project near Metro stations. The land for Metro project was acquired and allotted by KIADB. But according to the Karnataka Industrial Policy 2014-19, BMRCL cannot sell the land. Hence, the Cabinet decided to amend the policy.