Madhya Pradesh signs MOU with Centre for Bhopal, Indore Metro

BHOPAL: Madhya Pradesh government and the Madhya Pradesh Metro Rail Corporation signed an MoU was signed with Government of India in New Delhi on Monday for Bhopal and Indore Metro Rail Projects. The MoU was signed in the presence of Union Housing and Urban Affairs Minister Hardeep Singh Puri and state’s urban development and housing minister Jaivardhan Singh .

The project has been approved by the Union Cabinet.

Urban development and housing minister Singh told that two corridors of 27.87 kms in Bhopal Metro Rail Project include — one from Karond Circle to AIIMS up to 14.99 km and the second one from Bhadbhada Square to Ratnagiri Square up to 12.88 km. Its total cost would be Rs 6,941 crore.

A ring line of 31.55 km will be constructed in the Indore Metro Rail Project from Bangali Square to Palasia via Vijaynagar, Bhanwar Shala and Airport at a total cost of Rs 7,500 crore.

The Bhopal and Indore Metro Rail Project will be implemented by the Madhya Pradesh Metro Rail Corporation. This company will now be converted into a 50:50 joint venture company of Government of India and Government of Madhya Pradesh. The company will act as a special purpose vehicle (SPV) to complete the project and will have a board with 10 directors. GOI will nominate 5 directors including the chairman of the board while state will nominate 5 directors including the managing director.

The state government will bear the entire expenditure for land acquisition, restoration and rehabilitation. Loans will also be taken from European Investment Bank for Bhopal metro and Asian Development Bank and New Development Bank for Indore metro. The Government of India will buy the equity share capital, which will facilitate multilateral and bilateral loans for the project.

A high –power committee will be formed by the state government under the chairmanship of chief secretary for quick redressal of the difficulties in the way of the project. Principal secretaries of concerned departments will be included in the committee.

GOI will approve the technical standard and specifications of the project. The Certificate of Safety will be given by the commissioner, Metro Railway Safety

Among those present on the occasion were Secretary Union Ministry for Urban and Housing Durgashankar Mishra, additional secretary Sanjay Murthy, principal secretary Urban Development and Housing, MP and MD, Madhya Pradesh Metro Rail Corporation Sanjay Dubey, additional managing director Swantantra Kumar Singh, director technical Jitendra Kumar Dubey and general manager Manish Gangarekar.