The European Investment Bank (EIB) has approved a loan of Rs 2,693 crore for the Bengaluru Suburban Rail Project (BSRP). Under the financing structure, the project receives 20 percent funding each from the Karnataka government and the Central government, while the remaining 60 percent is secured through loans.

The existing BSRP project plan comprises four corridors with a total length of 148.17 km, with Larsen & Toubro being awarded contracts for two of them.

These corridors include KSR Bengaluru City to Devanahalli (Corridor 1 - 41.4 km), Baiyappanahalli to Chikkabanavara (Corridor 2 - 25.01 km), Kengeri to Whitefield (Corridor 3 - 25.01 km), and Heelalige to Rajanukunte (Corridor 4 - 46.25 km).

With this approval, the loan component for the Rs 15,767-crore suburban rail project has been fully mobilised. Germany's KfW Development Bank is another significant contributor, having signed a loan agreement worth Rs 4,552 crore (500 million euro) along with a grant of Rs 40.96 crore (4.5 million euro) in December, 2023.

The initiation of work on the Kanaka Line was marked by the barricading of the railway line on 07 May, 2024. Five minor bridges along this route will be constructed, with the deadline for completion set at 30 months from the contract awarded in December 2023.

Pre-construction activities, such as survey, drone video, and GPR survey were completed.