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Kolkata East West Metro rail project receives funds

Tuesday, 15 Apr 2014
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East West Metro Rail project of Kolkata Metro Rail Corporation (KMRCL) has received financial assistance of Rs 900 crore from the Ministry of Railways, for FY15. 


Of the total funds, the developer will utilise Rs 400 crore in the first quarter alone, for the project.


Along with this, the board of KMRCL has been reconstituted too. An official of the Ministry of Railways has replaced the secretary of the Ministry of Urban Development as its chairman. The seven-member board has representatives of the Railway Board, the Union Ministry of Urban Development, and the Bangalore Metro Rail Corporation.


The 14.67 km metro rail project will start from Howrah railway station to Salt Lake and will have a total of 12 stations. Japan International Cooperation Agency is providing Rs 2,253 crore out of the total project cost of Rs 4,875 crore.


At present, the Railways holds 74 per cent stake in the KMRCL and the rest is held with the Ministry of Urban Development.

 

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