New Delhi, June 5 : The Union Cabinet today approved the implementation of the East-West Metro Corridor project in Kolkata from Howrah Station to Salt Lake at an estimated cost of Rs 4,676 crore.
The 13.77 km project would have an eight km underground stretch, the remaining 5.77 km falling under the elevated section. The underground section would run across the river Ganges.
The Cabinet also gave its approval for the constitution of a Special Purpose Vehicle (SPV), a High Power Committee, an Empowered Committee, Empowered Group of Ministers and a Legal Framework.
A Special Purpose Vehicle (SPV) will be constituted for successful execution of the project as well as it's operation and maintenance. Such SPV will be Joint Venture Company of Government of West Bengal and Government of India.
The equity participation of the Government of West Bengal and Government of India will be on 50:50 basis.
The east-West Metro Corridor Project would provide much-needed additional transport infrastructure to Kolkata.
The project is expected to be completed in six and half years in two stages.
The elevated section would be commissioned in five and half years time in its Ist stage of 5.77 Kms.