Updated: December 23, 2015 5:42:38 am
The Union Cabinet, chaired by Prime Minister Narendra Modi, on Tuesday approved the construction of the first phase of the Metro Rail project in Lucknow.
To be built at an estimated cost of Rs 6,928 crore, the project will cover a stretch of 22.878 km between Chaudhary Charan Singh International Airport and Munshi Pulia with 22 stations. Out of the Rs 6,928 crore cost, the Centre will fund Rs 1,300 crore in the form of equity and subordinate debt.
The project will be implemented by Lucknow Metro Rail Corporation (LMRC), which will be reconstituted into a 50:50 jointly owned company of the central and Uttar Pradesh governments.
Out of the total route length of 22.878 km, while elevated route will be 19.438 km, the underground route length will be 3.440 km with total 19 elevated and three underground stations.
The project will come under the legal framework of the Metro Railways (Construction of Works) Act-1978, the Metro Railways (Operation and Maintenance) Act-2002 and the Railways Act-1989, as amended from time to time.
In August this year, after a long wait, the Public Investment Board of Union Ministry of Finance had cleared the Metro project for Lucknow. Due to delay in getting clearances from the Centre, the state government had started work on the project from its own funds.
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