New Delhi, Jun 5 (UNI) The Centre 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.
It would be completed in six-and-a-half years in two stages. The first stage of 5.77 km elevated section would be comissioned in 5.5 years.
Announcing the Cabinet decision, Information and Broadcasting Minister Priya Ranjan Dasmunsi told reporters that the project would be executed through a joint venture company to be formed by the Centre and the West Bengal government.
The Cabinet also approved a proposal for constitution of a special purpose vehicle (SPV), a high power committee, an empowered committee, an empowered group of ministers and a legal framework.
An SPV would be constituted for successful execution of the project as well as its operation and maintenance. Such an SPV would be a JV company of the Centre and the state government, each sharing the equity equally.
The project was aimed at providing the much-needed additional transport infrastructure to Kolkata, the Minister said.
UNI SN SB DS1345