The Union Cabinet on Wednesday gave its approval for the 38.21-km Nagpur Metro Rail Project. The project will have two corridors — the North-South Corridor covering approximately 19.65 km and the East-West Corridor covering approximately 18.55 km.
The Rs. 8,680-crore project will get Rs.1,555 crore in the form of equity and subordinate debt from the Centre.
It will be implemented by the Nagpur Metro Rail Corporation Limited, which will be set up as a 50:50 jointly owned company of the government of India and the Maharashtra govt.
Prime Minister Narendra Modi will lay the foundation of the project on Thursday.
The project is expected to improve connectivity and decongest heavily populated areas of Nagpur.
The proposed North-South & East-West alignments are also expected to bring connectivity to the upcoming MIHAN project, the Special Economic Zone (SEZ), educational institutions and logistic hubs in the city, said an official of the Urban Development Ministry.
The two corridors, together, are aimed at transforming the city’s urban transportation scenario by considerably reducing traffic congestion and bringing in a fast, comfortable, safe and affordable mass transportation system.