Date of Post : 14 July, 2017
Indore: A team from Asian Development Bank (ADB) will visit Indore to assess the much-awaited Metro Rail Project in Indore city.
Further Information On The Visit:
- The move comes after a fund of $500 million was sanctioned by ADB and New Development Bank (NDB) on Wednesday.
- Officials of Madhya Pradesh Metro Rail Company (MPMRC), Indore said each of the banks will provide a fund of $250 million. “Japan International Cooperation Agency (JICA) had initially agreed to finance the Indore Metro project, but it did not move ahead. Now, ADB and NDB have given their nod to provide the loan for this project which will be very effective for the city in controlling traffic congestion and increased pollution. It will also offer citizens of Indore a fast mode of transport,” said MPMRC’s officer on special duty, Kamal Nagar.
- He said that the ADB team will include experts from electrical, civil and technical fields who will review the proposed route of the project and also held discussions with the state government over the project proposals.
- “A final date for their visit is yet to be announced,” he added.
- According to officials, one metro corridor will be laid in Indore and the project will start from the next financial year. “The entire system has been to be built in seven years, which will be a challenge given the high-level of engineering and funds. The first phase of the project is expected to be completed in four years,” they said.
The Metro Rail Project in Indore:
- Both the central and state governments will have 20 per cent shares each, and 60 per cent of the project cost will be raised through financial assistance from ADB and NDB.
- Officials said the locations and layout of the stations have been defined in the detailed project report.
- The Indore city will have a driverless light metro rail which will be 70 percent cheaper than the metro rail which JICA had agreed to finance.
- The system will be state of the art. Driverless trains have specific safety features and equipment on board a train will be in accordance with commuters’ requirements.