Madhya Pradesh signs MoU with Centre for Bhopal & Indore metro projects

New Delhi (Urban Transport News): To boost the speed of urban transportation infrastructure, an memorandum of undertaking (MoU) signed in New Delhi on Monday between Government of India, Government of Madhya Pradesh and Madhya Pradesh Metro Rail Corporation for Bhopal & Indore Metro Rail Project.

The MoU was signed in the presence of Union Housing and Urban Affairs Minister Hardeep Singh Puri, State Urban Development and Housing Minister Jaivardhan Singh and other officials from the MP Metro Rail Corporation and Ministries. After signing the MoU, Jaivardhan Singh, Urban Development and Housing Minister, Madhya Pradesh said,

A historic day for Madhya Pradesh as we signed the MOU for the Bhopal and Indore metro with GOI in the presence of Hon Minister for UD and Housing Shri Hardeep Singh Puri. It will be our endeavour to implement the project on time without compromising on quality. 

Urban Development and Housing Minister Jaivardhan Singh informed that two corridors will be built in 27.87 km in Bhopal Metro Rail Project. One corridor will be 14.99 kilometers from Karond Circle to AIIMS and another 12.88 kilometers from Bhadbhada intersection to Ratnagiri intersection. Its total cost will be Rs 6,941.40 crore.

A 31.55 km long ring line will be built in Indore Metro Rail Project. It will go from Bengali intersection to Vijayanagar, Bhanwar Shala, Palasia via Airport. Its total cost is Rs 7500.80 crores.

Key points of MoU

• Bhopal and Indore Metro Rail Projects will be implemented by Madhya Pradesh Metro Rail Corporation Limited. This company will now be converted into a 50:50 joint venture company of Government of India and Government of Madhya Pradesh. The company will act as a special purpose vehicle (SPV) to complete the project. The company will have a board of directors consting 10 directors. The Government of India will nominate 5 directors including the Chairman of the Board. The state government will nominate 5 directors including the managing director on line with other metro rail corporations.
• In the project, the state government will bear the entire expenditure for land acquisition, restoration and rehabilitation. Loans will also be taken from European Investment Bank for Bhopal Metro and Asian Development Bank and New Development Bank for Indore Metro. The Government of India will buy the equity share capital, which will facilitate multilateral and bilateral loans for the project.
• A high power committee will be set up by the state government under the chairmanship of the chief secretary to quickly resolve the difficulties faced by the project. The committee will also include the principal secretaries of the departments concerned.
• The Government of India will approve the technical standards and specifications of the project. The certificate of safety will be given by the Commissioner of Metro Railway Safety (CMRS).

During signing of the MoU, Secretary, Ministry of Housing and Urban Affairs Durgashankar Mishra, Additional Secretary Sanjay Murthy, Principal Secretary of Urban Development and Housing and Managing Director of Madhya Pradesh Metro Rail Corporation Sanjay Dubey, Additional Managing Director Swatanter Kumar Singh, Director Technical Jitendra Kumar Dubey and General Manager Manish Gangarekar were present. In October 2018, Centre has approved both the metro rail projects.