Title - Centre likely to release funds for Jaipur Metro soon

The Union Finance Ministry has recommended release of assistance worth Rs.630 crore for first phase of the ambitious Jaipur Metro project. The proposal was made at a meeting of the Public Investment Board (PIB) organised at North Block in New Delhi on Tuesday.

The proposal will shortly be referred to the Union Cabinet for its approval. Union Finance Secretary R. S. Gujral presided over the meeting, while Chief Secretary C. K. Mathew and Additional Chief Secretary (Urban Development) G. S. Sandhu represented Rajasthan.

Mr. Mathew said the Central assistance would help speed up work on the project and facilitate its early completion. The PIB members praised completion of initial segment of the first phase, covering the route from Mansarovar locality to Chandpole in the Walled City, in record time.

Experimental run

Jaipur Metro Chairman-cum-Managing Director Nihal Chand Goyal and senior officers also attended the meeting. The PIB was informed that the metro rail would be run on an experimental basis on the first phase route next month. The cost of first phase is Rs.3,149 crore, covering the distance of 12 km.

The Central assistance of Rs.630 crore, making up 20 per cent of the total cost of first phase, will comprise Rs.472.50 crore as equity and Rs.157.50 crore as loan. The Jaipur Metro Rail Corporation will also get assistance from the Asian Development Bank for the first phase.

The project’s second phase will involve construction of the north-south corridor in the capital city, covering the localities between Sitapura industrial area and Ambabari. Mr. Goyal said the estimated cost of second phase, also covering a distance of 12 km, would be Rs.6,538 crore.