Nagpur Metro project moves, team in town.

The Nagpur Metro railway project has picked up momentum with the state government sanctioning Rs. 198 crore in its annual budget a few days ago.

Beginning Thursday, a team of French Development Agency AFD has been holding meetings with all the stakeholders to decide on if and how it could finance the project.

'It will make an appraisal and submit it to the agency’s boards in Paris for approval,' Nagpur Metro Rail Corporation Limited (NMRCL) Managing Director Brijesh Dixit told The Indian Express.

'AFD is one of the agencies designated by Union Finance Ministry as a probable financier of the project and will extend up to one-third of the project cost if and when it decides to. The rest of the loan requirement is expected to be raised from some other financial agencies,' Dixit added.

The Nagpur Metro is estimated to cost over Rs. 10,000 crore, 50% of which will come through loans and the rest will be jointly borne by the state, Centre and Nagpur Municipal Corporation (NMC) and Nagpur Improvement Trust (NIT).

'The team has met most of the stakeholders and will tomorrow meet the rickshaw unions to assess the possible impact on them and suggest mitigation measures,' he said.

Asked about the progress the project has made, Dixit said, 'We already have Rs. 500 crore at our command with which we hope to call consultants and contractors through tender process very soon.'

About the land required, Dixit said 'We already have 50% of land required to be acquired with us in the MIHAN area from where we hope to begin the work.'

Nagpur Metro will run 19.658 km along north-south and 18.557 km along east-west corridors passing through residential, business and industrial areas. It is expected to carry three lakh passengers everyday.


THE INDIAN EXPRESS