Govt releases Rs 70 cr for Metro Rail work

Source: The Hitavada      Date: 07 Jan 2019 10:23:46


 

Special Correspondent,

So far, State has disbursed Rs 842 cr including Rs 163 cr soft loan

Maharashtra Government has released Rs 70 crore to Maha Metro Nagpur for the ongoing works of ambitious Metro Rail project. Till now, the State Government has released Rs 679 crore out of its promised contribution of Rs 1,114 crore for the project. The State has also released Rs 163 crore as soft loan and so far has disbursed Rs 842 crore for the Metro Rail work whose estimated cost is Rs 8,680 crore.


The Central and State Governments have agreed to share project cost in the ratio of 50:50. The Government will also provide amount in soft loan form for the project. Nagpur Municipal Corporation (NMC) and Nagpur Improvement Trust (NIT) are also contributing for this mega project to create an effective rapid mass transport system in the city. State Government has provided Rs 84.45 crore in 2015, Rs 137 crore in 2016, Rs 213 crore in 2017, Rs 175 crore in 2018 and Rs 70 crore in January 2019. The cumulative contribution of the State Government for this project so far is Rs 679 crore. The Government has also directed NIT and NMC to release their share, and Maha Metro should maintain separate accounts of funds received from different agencies.


Meanwhile, the State Government has also released Rs 77 crore against a soft loan to the Maha Metro for Nagpur project. The Government has to provide a loan of Rs 622 crore for the project. Till now, the Government has released Rs 163 crore to Metro project as soft loan. The State Government has released soft loan of Rs 26.21 crore in 2017, Rs 60 crore in 2018, and Rs 77 crore recently.


As per Government directions, the Maha Metro has to repay principal amount of loan by the year 2036 and soft loan provided by the State and Central Government is to be paid from the year 2037. Presently, State Government has not finalised the interest rate for the soft loan. Maha Metro Nagpur is implementing the Metro Rail project in Nagpur. The total length of North South Corridor from Automotive Square to MIHAN Khapri Depot is 19 kms, while length of East-West Corridor from Prajapati Nagar to Lokmanya Nagar is 18 kms.

The Metro has divided all the portions in four categories -- Reach-1, Reach-II, Reach-III and Reach-IV to finish the work within stipulated time. Presently, work of all the phases is going on simultaneously and smoothly. At present, Metro is focusing on three stations- Airport, Jaiprakash Nagar, and Sitabuldi stations on Reach I and four stations - Lokmanya Nagar, Subhash Nagar, Rani Jhansi and Institute of Engineers Station on Reach -III to finish early so that the operation may start by March 2019. As per plan, the Metro Rail has station is located at every one km but they will start these 7 stations to take permission for trial run.