INFRASTRUCTURE
Over Rs 33,700-crore metro, airport projects get the Union Cabinet’s approval
- IBJ Bureau
- Aug 17, 2024
The Union Cabinet has approved expansion of metro corridors in Bengaluru, Pune and Thane and construction of new terminals at the airports in Bihta near Patna and Bagdogra in West Bengal at a total cost of more than Rs 33,700 crore.
The metro projects will be funded by the Centre and the States as well as bilateral agencies and will be operational by 2029, according to an official statement.
The Cabinet has approved phase-3 of Bangalore Metro Rail Project with two elevated corridors for a length of 44.65 km and 31 stations. The project has a total completion cost of Rs 15,611 crore.
The proposed 29-km corridor of Thane Integral Ring Metro Rail Project will have 22 stations. The total cost of the project is estimated to be Rs 12,200 crore.
The extension of Pune Metro phase-1 from Swargate to Katraj spanning 5.46 km was also approved at the Cabinet meeting. The estimated cost of the project is Rs 2,954.53 crore.
Funds will also be raised through innovative financing methods such as by selling station naming and access rights for the corporate sector, monetisation of assets and value capture financing route, according to the statement.
The Cabinet has also approved the proposal of the Airports Authority of India (AAI) for development of a new civil enclave in Bihta near Patna at an estimated cost of Rs 1,413 crore.
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