The Government of Uttar Pradesh in India has approved three separate proposed metro projects in three cities across the state, which will involve a combined investment of Rs470bn ($7.36bn).
Metro services are set to be commenced in the cities of Agra, Kanpur and Meerut under the state cabinet-approved plan.
The three metro projects are expected to be operational by 2024 and are slated to be funded via a combination of share equity, debt and loans from financial institutions.
The Agra, Kanpur and Meerut metro rail projects are estimated to require investments of Rs139.6bn ($2.19bn), Rs183.4bn ($2.87bn) and Rs148.9bn ($2.33bn) respectively, reported Business-standard.com.
A new Uttar Pradesh Metro Rail (UPMRC) entity is set to be created by the state government in order to ensure the smooth implementation of the projects, which will be formed by restructuring the current Lucknow Metro Rail (LMRC) organisation.
The government has also appointed Lucknow Metro Rail (LMRC) as the interim consultant for the three currently approved initiatives.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
LMRC will carry out preliminary construction work along the priority section, depot and boundary walls of these metro developments, as well as call for associated project tenders.
LMRC is primarily engaged in the operation of the Lucknow metro service that runs from the city’s airport to Charbagh railway station.
In addition, metro rail services are also expected to be developed in the state’s two other cities Varanasi and Gorakhpur, while proposals for similar services in Allahabad, Jhansi and Moradabad are currently under consideration.
The cities of Lucknow, Noida and Ghaziabad all feature fully operational metro services.