Lucknow Metro gets Rs 250 crore assistance from Centre ahead of state polls
Ahead of the assembly elections in the state, the Centre on Thursday released another Rs 250 crore for the Lucknow metro rail project, a joint venture of the Central and Uttar Pradesh governments.
The Union urban development ministry (UD) had released Rs 300 crore, earlier this year.
“This takes the total assistance provided to the Lucknow Metro to Rs 550 crore. Union home minister Rajnath Singh had last week discussed the progress of the project with UD minister M Venkaiah Naidu and had sought its speedy implementation,” said a senior UD ministry official.
The 23 kilometre Lucknow metro is estimated to cost Rs 6,928 crore. Of this, the central government will provide Rs 1,003 crore as its share of equity, Rs 297 crore is sub-ordinate debt and Rs 3,500 crore is loan assistance from the European Investment Bank. The state has to mobilise the remaining Rs 2,128 crore.