Ahead of the coming Assembly polls in Madhya Pradesh this year, the Union Cabinet on Wednesday approved Rs 14,441 crore for metro projects in Bhopal and Indore. Both the projects would be completed in four years. These two metro rail projects will impact at least three dozen Assembly seats in the State. There will be 30 stations each in both these metro lines and the per km is expected to be between Rs 182 crore and Rs 200 crore.
The Union Cabinet also approved redevelopment of Railway Stations by Indian Railway Stations Development Corporation Limited (IRSDC) as Nodal Agency and main Project Development Agency, through simplified procedures and for longer lease tenure of up to 99 years. This program will help provide state-of-the-art amenities for passengers, generate additional revenues and will be overall at least cost neutral to Ministry of Railways (MoR) over a basket of stations. Furthermore, redevelopment of railway stations across the country will have a multiplier effect in the economy with increased job creation and improved economic growth. Read more
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