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Kolkata: Railways not to takeover East-West Metro

Kolkata: Railways which had in-principal decided to take a majority stake in the over Rs 4,000-crore East-West Metro project here will not proceed with the proposal.
"It has been decided that the Railways will not takeover the East-West Metro rail project as complete funding will be an issue," West Bengal Minister of State for Urban Development Saugata Roy said.
The project will be implemented under the previous formula, Roy said on the sidelines of the fourth anniversary celebrations of the Second Vivekananda Bridge.
The 13-km stretch both underground and elevated between Salt Lake Sector-V and Howrah, according to the earlier formula, was to be implemented jointly by the West Bengal Government and the Union Urban Development Ministry.

The total project cost estimated at Rs 4,676 crore would be borne by the Kolkata Metro Railways Corporation. 45 per cent loan for the project cost will come from the Japan Bank for International Cooperation.
 
Source - Zee news

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