Infrastructure: 50 Cities To Get Metro Services with 5 lakh Crore Investment

The Government of India has finalized a plan to augment and launch mass rapid transportation systems across 50 cities which Prime Minister Narendra Modi mentioned in his Pune Speech while inaugurating the project launch of Pune Metro Rail. 

Prime minister Narendra Modi has already cleared a proposal put up by the ministry of urban development, estimated to cost Rs 500,000 crore over the next four to six years. The Union government plans to share the cost of implementing the project with the respective state governments through special purpose vehicles. Companies from South Korea, China, Japan, Germany, France, Russia and Canada have evinced interest in participating in the project.

If you will see the current status of India then you will find that Delhi, Faridabad, Noida, Greater Noida, Ghaziabad, Lucknow, Jaipur, Kochi, Mumbai, Chennai, Bangalore, Hyderabad, Kolkata, Ahmedabad etc cities either have Metro Rail Network or they are in last phase of implementation which is very good news for rapid transit network and sustainable Transportation. 

Most of the metro rail projects would be implemented through special purpose vehicles (SPVs) in which both state governments and the centre would have equity stakes. While most JVs are being planned as 50:50 ventures, certain innovations are also expected in some of the new projects where municipal corporations have expressed their desire to join the proposed SPVs as equity partners.

Already, some 13 metro projects have either been completed or are in various stages of completion. These include networks in Delhi, Bangalore, Hyderabad, Che­n­nai, Jaipur, Mumbai (both metro, monorail), Kolkata and Kochi.

Tier-II cities like Lucknow, Kanpur, Gurgaon, Patna, Ahmedabad, Surat, Indore, Nagpur and Coimbatore have also been identified for setting up dedicated metro networks, while proposals are being evaluated for Chandigarh, Bhopal, Ludhiana and Kozikode.

The Hyderabad metro, where Larsen & Turbo is the main concessionaire, is reportedly on schedule and is likely to roll out by October.

The latest to join the proposed list is Vijayawada with a link to Amaravathi, the new state capital of Andhra Pradesh, with an investment of Rs 6,823 crore. 

According to preliminary projections, at least 40 per cent of the required power for operating the system would be sourced from dedicated solar power plants. Land acquisition for the project has already commenced . 

With a deadline of 2022, Narendra Modi Government wants to celebrate India’s 75th Independence with a huge Infrastructure turnaround.

Source : MetroService News

Abhishek Kumar 

You can reach the author at @Abhi_4_Nation