Title - Nagpur Improvement Trust to resubmit metro rail detailed project report within 15 days

NAGPUR: Nagpur Improvement Trust (NIT) is all set to resubmit the detailed project report of metro rail within 15 days. However, Nagpur Municipal Corporation's (NMC) standing committee chairman Avinash Thakre, on Friday, created a flutter by stating that it will take at least two years as for the project to get approval as claimed by municipal commissioner Shyam Wardhane.Raising four queries, the state government sent the DPR back to NIT on July 23. The state planning department asked NIT to comply with four points which included consent letters from NMC, MADC and other agencies involved in the project. The department also asked NIT to work on financial interest rate of return (FIRR).Following this, the proposal was tabled before the standing committee in the meeting held on Friday seeking its approval to bear 5% of total project's cost.Thakre informed that approval has been given to NMC to bear Rs 450.35 crore of the total project cost of Rs 9,007 crore. "Rahul Telang had asked the administration whether NMC could bear such a huge cost in the current financial condition. Wardhane, then, gave a power point presentation and said that the NMC had nothing to worry as it will take at least two years to comply with the FIRR query," Thakre said.

When Thakre was asked to clarify his statement, he explained that Wardhane has claimed that NMC will have to bear the cost only after two years as the work on FIRR query will take such long time.

"Standing committee has clearly stated, while, approving the funds that NMC will bear no escalation cost in the project. NMC will bear 5% of the total project cost which would be approved by the central government. NMC will not pay a single penny if the project cost escalates after approval," he said.

On the status of the project, NIT chairman Pravin Darade told TOI that the DPR will be submitted within 15 days. "We have worked out the FIRR issue and are all set to submit the project."

In fact, it is NMC which is delaying issuance of consent letter to NIT. Thakre said that the proposal will be tabled before the general body. The meeting of the general body will be held next month followed by approval of minutes in November. NIT had written to NMC seeking consent letter in June. Even, the state urban development department had in July directed NMC to give NIT the letter.