The Indian state of Maharashtra has approved the second phase of Nagpur Metro, which is estimated to cost Rs112.16bn ($1.59bn).
Following approval by the state cabinet, the detailed project report of the second phase was sent for union government consent.
The project is being executed by MahaMetro, a joint venture (JV) between the state government and the union government with an equal stake.
The Rs86.8bn ($1.23bn) first phase of the project is under construction and is currently 75% complete, reported The Times of India.
Phase II of the project encompasses 48.3km of rail construction and will include 35 stations.
It comprises five segments covering MIDC ESR to MIHAN, Automative Square to Kanhan River, Prajapati Nagar to Transport Nagar, Lokmanya Nagar to Hingna, and Vasudev Nagar to Dattawadi.
The state and central government will contribute Rs20.57bn (18.33%) each towards the construction of the second phase.
Maharashtra Industrial Development Corporation (MIDC) and Maharashtra Airport Development Company (MADC) will bear 5% each.
MahaMetro will seek foreign investment to procure the remaining 53.33% of the total cost.
The union government is expected to provide its approval in two months, the publication added.
The total population to be covered by the two phases of Nagpur Metro is more than two million. It is estimated that the total ridership of these phases will reach 770,000 by 2041.
Last month, the Indian government laid foundation stones for two metro lines in Mumbai, the capital of Maharashtra.
The two lines, Thane-Bhiwandi-Kalyan (Metro-5) and the Dahisar-Mira Bhayander (Metro-9), involve a combined investment of Rs150bn ($2.12bn).