Gujarat seeks 25 pc Central funding for Metro

Last Updated: Tuesday, January 10, 2012 - 15:51

New Delhi: The Gujarat government has
approached the Urban Development Ministry seeking 25 per cent
Central funding for the Gandhinagar and Ahmedabad Metro
Development Project.

Though the ministry has generally followed a model as per
which it provides 20 per cent of the cost project as financial
assistance, it was currently evaluating the Gujarat government
report, sources said.

As per the request, the state government and the Central
government could fund 25 per cent each while the rest 50 per
cent cost could be raised through loans or other sources.

The cost of the entire project was pegged at Rs 4304
crores as per the prices prevailing in 2004. The estimate is
Rs 9000 crores at current prices, the sources said.

The Gujarat government was not keen to adopt the Public
Private Partnership (PPP) model which the Urban Development
Ministry has endorsed for some of the projects in the past,
they said.

The Gujarat Infrastructure Development Board had initiated
the project planning exercise for Ahmedabad Metro Rail System
in 2003.
After the Detailed Project Report (DPR) was prepared by
DMRC, a steering committee was constituted by the Gujarat
government in 2008 under the chairmanship of the Principal
Secretary, Urban Development Department to expedite the
implementation of the project.

PTI



First Published: Tuesday, January 10, 2012 - 15:51
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