The Hindu Business Line : Bangalore Metro gets Cabinet nod

The Union Cabinet today gave its approval for implementation of the Bangalore Metro Rail Project by the Bangalore Metro Rail Corporation Ltd covering a length of 33 km at a cost of Rs 5,453 crore. The project will have a debt-equity ratio of 70:30 and will be rolled out across two corridors. "The main objective of the project is to provide a reliable, safe, energy-efficient, comfortable, affordable and non-polluting rail-based mass transit system for Bangalore City. The implementation period of the project is five years and it will be completed by 2011," said an official release. The Cabinet also gave its approval for the signing of an Air Service Agreement between India and New Zealand. The agreement will enable both countries to designate an airline, or airlines, to operate agreed services on specified routes and to withdraw or alter such designations.

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