Comments
The Railways has decided not to go ahead with its decision to take a majority stake in the over Rs 4,000-crore East-West Metro project here.
“It has been decided that the Railways will not take over the East-West Metro rail project as complete funding will be an issue,” the West Bengal Minister of State for Urban Development, Mr Saugata Roy, told PTI.
The project will be implemented under the previous formula, Mr Roy said on the sidelines of the fourth anniversary celebrations of the Second Vivekananda Bridge.
The 13-km stretch both underground and elevated between Salt Lake Sector-V and Howrah, according to the earlier formula, was to be implemented jointly by the West Bengal Government and the Union Urban Development Ministry.
The total project cost estimated at Rs 4,676 crore would be borne by the Kolkata Metro Railways Corporation. About 45 per cent loan for the project cost will come from the Japan for International Cooperation.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.