Cabinet clears ₹14,441-cr twin metro rail projects in MP
The Union Cabinet gave its nod for two metro rail projects in Madhya Pradesh — one each in Bhopal and Indore with a combined investment of ₹14,441 crore. Both the projects will have equity participation from Centre and States, and a PPP component wherein the Bhopal project will cost ₹6,941.4 crore, while the Indore project ₹7,500 crore. In a related development, the Cabinet has also approved a proposal to make Indian Railway Station Development Corporation (IRSDC) the nodal agency to ensure coordinated development of railway stations and other allied rail projects wherein IRSDC will decide whether stations should be bunched for development. Also, IRSDC can extend lease period up to 99 years, and will decide the lease period for each project, Union Minister, Ravi Shankar Prasad said.
📅Published on:
04 October 2018
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