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Construction : Web Exclusive | December 2016 | Source : CW-India

Centre releases Rs 250 crore assistance to Lucknow Metro

Lucknow Metro Rail project – a JV of central and Uttar Pradesh Governments – has received Rs 250 crore from the Ministry of Urban Development. The ministry had earlier this year released Rs 300 crore taking the total assistance provided to the Lucknow Metro to Rs 550 crore. As reported by PIB, Home Minister Rajnath Singh discussed the progress of Lucknow Metro with Urban Development Minister M Venkaiah Naidu and sought its speedy implementation. The 23 km Lucknow Metro is estimated to cost Rs 6,928 crore. Of this, the Central Government provides Rs 1,003 crore as its share of equity, Rs 297 crore as Sub-ordinate Debt and Rs 3,500 crore as loan assistance. Uttar Pradesh has to mobilise the remaining Rs 2,128 crore as its share of equity and other means. The Central Government entered into a loan agreement with the European Investment Bank in March this year for providing a loan of Rs 3,500 cr to the Lucknow Metro Project.
 
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