Ministry of Urban Development today released Rs 250 cr for the Lucknow Metro Rail project which is a joint venture project of central and Uttar Pradesh Governments.
The Ministry had earlier this year released Rs.300 cr taking the total assistance provided to the Lucknow Metro to Rs.550 crore, said an official statement.
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 cr. Of this, central government provides Rs.1,003 cr as its share of equity, Rs.297 cr as Sub-ordinate Debt and Rs.3,500 cr as loan assistance. Uttar Pradesh has to mobilise the remaining Rs.2,128 cr as its share of equity and other means.
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.