Lucknow Metro

Ministry of Urban Development has released Rs.250 crore for the Lucknow Metro Rail project, a joint venture project of central and Uttar Pradesh Government.

The Ministry had earlier this year released Rs.300 crore for the project for which the Central Government has entered into a Rs.3,500 crore loan agreement with the European Investment Bank in March.

The 23-km Lucknow Metro is estimated to cost Rs.6,928 crore. Of this, central government provides Rs.1,003 crore, Rs.297 crore as Sub-ordinate Debt and Rs.3,500 crore as loan assistance.

Uttar Pradesh has to mobilise the remaining Rs.2,128 crore as its share of equity and other means, said the ministry on Dec 29, 2016. Fii-news.com