Centre clears Rs. 250-cr for metro project

Injecting a major booster to the Lucknow Metro-rail project, the Urban Development Ministry has recently released Rs. 250-cr for the project, which is a joint venture between the Central and state governments. In addition to the latest funding infusion, the ministry had prior to this has released Rs. 300-cr earlier this year, thereby taking the total assistance provided to the Lucknow Metro to Rs. 550cr, said official sources, claiming that Union Home Minister, Rajnath Singh, who is representing the Lucknow Parliamentary constituency, is the brain behind fast tracking the funding infusion as he sought the speedy implementation of the mega metro project. The 23 km Lucknow Metro is estimated to cost Rs. 6,928cr, of which Central government provides Rs. 1,003-cr as its share of equity, Rs. 297-cr as sub-ordinate debt, and Rs. 3,500-cr as loan assistance. Uttar Pradesh has to generate the remaining portion of fund of Rs. 2,128-cr as its share of equity, they sources claimed.