Date of Post: 26 Sep, 2018
For multiple metro projects across the country , SPVs are formed to ensure speedy project implementation along with shareholding by the Centre and the State for the project .
Now , the Bihar cabinet has given its nod for constituting “Patna Metro Rail Corporation Ltd (PMRCL)” as special purpose vehicle (SPV) for implementation of the metro rail project in the capital.
More Details :
- The cabinet meeting chaired by Chief Minister Nitish Kumar also approved Rs 2,000 crore as authorised capital for PMRCL .
- Urban Development and Housing Department’s Principal Secretary will be the head of SPV, while representatives of Finance, Road, Transport and Energy departments will be the members of its board of directors.
- The state government would nominate the Managing Director of the SPV.
- RITES (Rail India Technical & Economic Service) has been given the task of formulating the DPR.
- Notably, RITES has submitted the revised Detailed Project Report (DPR) to the Urban Development and Housing department .
- Now the DPR would now be put up before the state cabinet for approval.
- Once the DPR is approved by the state cabinet, it would be sent to the centre for the approval, the sources said.
- A preliminary DPR for metro rail project was approved by the state cabinet in February last year but it was required to be revised after the Centre came up with a new metro policy 2017.
- The metro rail envisages two corridors in the phase-1.
- The first corridor will be between Saguna Mor-Bailey Road-Patna Junction- Mithapur bus stand, while the 2nd corridor will be from Patna junction to proposed bus stand at Bairiya on Patna-Gaya road.
- By 2024, Metro rail operations will be started on these two routes of Patna.
To know more about recent developments of Patna Metro-
Deepak Kumar is a part of the content team of Rail Analysis India as a writer and analyst .
His focus is on new initiatives on the Railway Sector of India .
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