Chouhan discussed a proposal for funding the two metro projects through European Investment Bank (EIB) and through the Asian Development Bank (ADB), according to ANI.
Madhya Pradesh Chief Minister Shivraj Singh Chouhan who wants to introduce metro trains to Bhopal and Indore has met Finance Minister Arun Jaitley. Chouhan discussed a proposal for funding the two metro projects through European Investment Bank (EIB) and through the Asian Development Bank (ADB), according to ANI.
The twin metro rail projects will be administered and managed by Madhya Pradesh Metro Rail Company Limited (MPMRCL). Chouhan will be the Chairman of the project while urban development minister and the mayors of Bhopal and Indore will be its members.
Madhya Pradesh’s Public Relations Minister Narottam Mishra told reporters that MPMRCL will take a loan of 60 percent of the cost while the state and central governments will each pay 20 percent of the cost.
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Vivek Agrawal, Commissioner of the Urban Administration and Development said that the Bhopal Metro Rail Project will cost Rs 22, 504.55 crore. Bhopal metro rail will run on seven routes and will have a length of 95.03 km, of this 84.83 km will be elevated. The first phase of Bhopal metro will run on two routes and is expected to cost Rs 6962 crores, reported the Indian Express.
The Indore metro rail, on the other hand, will have a total length of 104 kilometers. The estimated cost of this metro project is Rs 26762.21 crore.
MP Chief Minister had told officials linked to the metro project to expedite work on the two projects while ensuring the economic viability of the plan, according to an Indian Express report.