BHOPAL (Metro Rai News): The state budget of Madhya Pradesh has designated a sum of Rs 710 crore for the metro rail projects in Bhopal and Indore. The cities have a priority corridor that is currently under construction. Despite the availability of external funding for both projects, it has not been utilized yet. The state government aims to commence the priority corridor of these ambitious metro projects by September 2023, which it has set as the deadline.
During a recent statement, Finance Minister Jagdish Devda stated that the operation of the Metro Rail between Indore and Bhopal would be initiated soon. He expressed his hope that the primary corridor will be completed by the year 2023-24.
In October of last year, an official from the Madhya Pradesh Metro Rail Corporation Limited (MPMRCL) announced that the first installment of a $250 million loan (out of a total of $400 million) from the European Investment Bank (EIB) is anticipated to be released in the first quarter of 2023. This announcement came after a visit from the EIB team to Bhopal.It is anticipated that the initial phase of the Bhopal Metro project will consist of 2 lines and 28 stations, and the project will be divided into three main packages. The project equity is divided among various entities, with the MP government and the Union government holding 20% each, while the remaining 60% will be financed through a soft loan from the EIB.
