5 june :The Union Cabinet today gave its approval for implementation of the East-West Metro Corridor project, Kolkata covering a length of 13.77 kms. (8 km under ground and 5.77 km elevated), on Standard Gauge, from Howrah Station to Salt Lake Sector V at a completion cost of Rs. 4676 crores to be executed through a Joint Venture Company to be formed by the Central Government and the State Government.
The Cabinet also gave its approval for constitution of Special Purpose Vehicle (SPV), High Power Committee, Empowered Committee, Empowered Group of Ministers and Legal Framework.
A Special Purpose Vehicle (SPV) will be constituted for successful execution of the project as well as it’s operation and maintenance. Such SPV will be Joint Venture Company of Government of West Bengal and Government of India. Equity participation of Government of West Bengal and Government of India will be on 50:50 basis.
The objective for implementation of the East-West Metro Corridor Project, Kolkata is to provide much needed additional transport infrastructure to the city of Kolkata, capital of the State of West Bengal.
The project will completed in six and half years in two stages. Ist stage of 5.77 Kms, elevated section would be commissioned in five and half years time.