For Agra, Kanpur metro rail projects Niti Aayog assures funding

The Aayog has assured the state government of forwarding its recommendation to the department of economic affairs very soon," Sigh told.

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for Agra, Kanpur metro rail projects Niti Aayog assures funding
for Agra, Kanpur metro rail projects Niti Aayog assures funding

LUCKNOW (Metro Rail News): On Monday, The government think tank, Niti Aayog, assured the UP government to expedite the funding for construction of metro rail projects in Agra and Kanpur. The decision was taken at a high-level meeting between Niti Aayog vicechairman, Rajiv Kumar and a delegation led by cabinet minister Siddharthnath Singh, principal secretary (Micro, small and medium scale industry) Navneet Sehgal and managing director of Lucknow Metro Rail Corporation Kumar Keshav.

After the meeting, Singh said that the vice-chairman has assured to expedite the clearance process of the funding for the ambitious project in the two cities.

The Aayog has assured the state government of forwarding its recommendation to the department of economic affairs very soon,” Sigh told. Singh, who is also UP government’s spokesperson, said that the European Union investment Bank is keen to fund both the projects.

The estimated cost of the Kanpur metro rail project is Rs 16,975 crores of which the state government will provide Rs 1,332 crore. The Kanpur Development Authority will have to shell out Rs 100 crores while UP State Industrial Development Corporation will have to pay Rs 50 crores in the first phase.

Likewise, the estimated cost of the Agra metro rail project is Rs 12,900 crores, of which Rs 1,009 crores would be provided by the state government and Rs 200 crores will have to be arranged by the local bodies. Earlier this month, the state government had transferred Rs 100 crores each to both the cities from the initial budgetary provision of Rs 175 crores.

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