The UT Administration has swung into action to finalise the modalities of the tricity metro project. For, the UT Administration on Monday sent a communiqué to the neighboring State Governments of Punjab and Haryana seeking their assistance to finalise the modalities of the multi-crore project.
A meeting in the regard has been convened on Friday where the representatives of UT Administration, Haryana and Punjab will discuss the terms and conditions of the agreement to be signed between the three stakeholders for the metro project.
The meeting would be significant in developing the future course of action with regard to the tricity metro project that proposes to link Chandigarh with satellite townships of Panchkula and Mohali.
Confirming the development, KK Sharma, Adviser to UT Administrator, said: “A communiqué has been sent to the neighboring states Governments of Punjab and Haryana. And, a meeting has been convened on Friday to finalize the modalities of the project.”
He added, “There is a need of formal agreement between the three stakeholders on the project. And, the same would be discussed in the upcoming meeting.”
Also, the UT Administration would initiate work for the constitution of a special purpose vehicle (SPV) for the implementation of metro project. The decision to immediately constitute the SPV was recently taken at the high-level meeting of Joint secretary (UT division) MHA, Secretary (MoUD) with officials of UT Administration, Punjab and Haryana Governments, DMRC in New Delhi.
The formation of SPV would be done in consultation with Punjab, Haryana and the Ministry of Urban Development. The SPV will be comprised of officials from the three stakeholders, Centre and it would deal with issues like acquisition, financing of the project, among other things. The SPV is expected to be set up at an initial investment of Rs50 crore.
The SPV could be registered under companies act as a public sector body either wholly owned by the Government of India or with equity participation from the State Governments as well.
The Delhi Metro Rail Corporation (DMRC) has prepared the Detailed Project Report of tricity Metro. Under the project, a total of 37.573 km metro rail project has been proposed including 23.468 km elevated and 14.105 km underground in the first phase having two metro corridors namely north-south corridor and east-west corridor.
The proposed north-south corridor Chandigarh will constitute 8.04 km underground and 4.43 km elevated track and the east-west corridor has a proposed length of 6.04 km underground track and 19.04 km of elevated track.
The total project cost of the Metro will be Rs10,900 crore in the first phase. It includes development of metro project in Chandigarh portion costing Rs8,245 crore, Rs1,427 crore in Punjab portion and Rs1,228 crore in Haryana portion.