| Panel proposes 50:50 fund model for Metro rail in Lucknow by Jitendar on 15 June, 2013 - 12:01 PM | ||
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Jitendar | Panel proposes 50:50 fund model for Metro rail in Lucknow on 15 June, 2013 - 12:01 PM | |
LUCKNOW: A high-level committee headed by chief secretary Jawed Usmani has proposed to roll out the Metro rail in Lucknow on a 50:50 sharing of funds between the Central government and UP. The same finance model has been used in Delhi Metro project. The estimated cost of the project would be around Rs 1,800 crore. The committee that met on Friday, apart from making recommendations on the finance and the Metro route, also approved the report prepared by the special Metro cell and Delhi Metro Rail Corporation (DMRC) officials. Usmani also directed for forming a special purpose vehicle (SPV) - to be christened as Lucknow Metro Rail Corporation - on an urgent basis for implementation of the project.A lot of effort and brainstorming has been put in by the Metro cell, headed by housing secretary Rajiv Agarwal, while preparing the report. The process included repeated attempts to review the proposed routes, revisions of the route map and selecting the most feasible financial model. The report would now be sent to the state cabinet for final nod. | ||