New Delhi, Aug 20 IANS | 3 months ago

The union cabinet Wednesday approved the development of metro rail project in the central Indian city of Nagpur with a proposed outlay of Rs.8,680 crore.

The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, gave the go-ahead to the proposal citing the growing transportation needs of the city.

According to the proposal, the project will be developed on a 38.21 km stretch by a newly-formed joint venture (JV) company.

The JV company will be owned by the central government and the government of Maharastra on a 50:50 basis.

"The cabinet has approved the development of metro rail in Nagpur. Nagpur is a big city and is growing. Metro will add to easing the city transport there," Telecom, IT and Law Minister Ravi Shankar Prasad announced after the cabinet meet here.

(Posted on 20-08-2014)

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