Union Minister of Commerce and Industry Piyush Goyal announced today that the Cabinet has approved a Rs 5,452 crore proposal to extend the Metro connectivity project from HUDA City Centre to Cyber City in Gurugram.
The extension was proposed by the Ministry of Housing and Urban Affairs and will cost Rs 5,452 crore, Goyal announced on June 7. It will be completed in four years
The union minister made this announcement following a Cabinet meeting with Prime Minister Narendra Modi earlier today. The Cabinet also decided to increase the minimum support price for kharif crops and allot the 4G/5G spectrum to BSNL in a revival package worth Rs 89,047 crore.
The Metro line will span a distance of 28.50 km and will include 27 stations along the route. It will be a standard gauge line of 1,435 mm or 5 feet and 8.5 inches. There will be a 1.5km-long spur line connecting Dwarka Expressway to the Metro, Goyal added.
#Cabinet approves the proposal of @MoHUA_India to extend the metro connectivity from HUDA City Centre to Cyber City, Gurgaon, with Spur to Dwarka Expressway
The completion cost of the project is Rs. 5,452 crore- Union Minister @PiyushGoyal #CabinetDecisions pic.twitter.com/wgTr3QUPN3— PIB India (@PIB_India) June 7, 2023
The entire project will be constructed as an elevated Metro line, with a spur line branching off from Basai village to connect to the depot.
The Haryana Mass Rapid Transport Corporation Limited (HMRTC) will be responsible for implementing the project, which is expected to be completed within four years from the date of approval.
Once the sanction order is issued, the HMRTC will be established as a special purpose vehicle (SPV) jointly owned by the Central and Haryana governments in a 50:50 partnership.
The line will improve the connectivity of New Gurugram to Old Gurugram and also connect with the Indian Railways station. The next phase will be to extend connectivity to Delhi's Indira Gandhi International Airport.
When asked by a reporter, Goyal said the financial burden for the over Rs 5,000 crore project will be borne by the Centre and the Haryana state government, equally. A development assistance loan will be raised by the Centre to help finance the project, he added.
Goyal urged other states to raise similar infrastructure project proposals in collaboration with the Centre, lauding the Haryana state government for its efforts.
First Published: Jun 7, 2023 3:49 PM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Gonda Lok Sabha election: BJP's Kirti Vardhan Singh takes on Beni Prasad Verma's granddaughter Shreya
May 19, 2024 10:19 PM
Faizabad Lok Sabha election: Can Ayodhya Ram Temple strengthen BJP's stronghold here?
May 19, 2024 10:16 PM
Amethi Lok Sabha election: Can BJP's Smriti Irani retain the Congress bastion she won in 2019?
May 19, 2024 10:12 PM
Rae Bareli Lok Sabha Election: Can Rahul hold on to this Gandhi family bastion?
May 19, 2024 10:09 PM