The Madhya Pradesh Cabinet has approved the detailed project reports (DPRs) of the Metro rail projects for Bhopal and Indore costing Rs 144.8 billion (EUR 2 billion). Two Metro corridors of 27.87 km would be laid in Bhopal. There would be one corridor of 31.55 km from Rajwada to Nainod in Indore. The work on Metro projects in both the cities will start in the next financial year.
In order to fund these projects, the Madhya Pradesh Metro Rail Company Limited will seek a loan to the tune of 60% while the state government and the Centre will allocate 20% each of the total cost. Initially, the Japan International Cooperation Agency (JICA) had ‘in-principle’ given the nod to provide the loan for Bhopal Metro project, but the financing didn’t come true. the Madhya Pradesh Metro Rail Company may thus seek funding from other financial institutions.
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