| The long-awaited multi-crore project aimed at decongesting the ever-increasing traffic density was expected to be completed in about three-and-a-half years from the date of commencement of work in June and the first train will be on track by October 2008, minister for information B Shivaram told reporters after a cabinet meeting. |
| The state was optimistic that the public investment board and the cabinet committee on economic affairs will extend the required clearance as soon as possible, he said. He added, "There are no hurdles in securing centre's clearance." |
| Union minister for urban development Ghulam Nabi Azad had assured that the Centre will clear the metro rail project by this month end, Shivaram said. |
| The Union Budget presented by finance minister P Chidambaram has already reflected centre's commitment to the project with funds being allocated under Urban Renewal Programme, he pointed out. |
| Karnataka will contribute Rs 1,807 crore and Centre Rs 1,447 crore while Rs 2,953 crore will be raised by financial institutions, Shivaram said. |
| The state has already tied-up with the financial institutions for Rs 3,000 crore loan. |
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