Bengaluru, June 11 -- The long-pending approval for Namma Metro Phase-3 is expected to receive a significant boost after a draft report prepared by RITES Ltd, a central public sector enterprise, concluded that the project remains economically viable even after the inclusion of the proposed double-decker corridor.

According to official sources, the report estimates that the 44.65-kilometre Phase-3 project will achieve an Economic Internal Rate of Return (EIRR) of 15.9 per cent. This is higher than the 14 per cent benchmark generally required for metro rail projects to secure approval from the Central Government.

The development is being viewed as a major positive step for Bengaluru's expanding metro network, as the project had been await...