The Uttar Pradesh government has given a push to the ambitious Agra Metro rail project construction by sanctioning the first tranche of Rs.750 mn. Of the Rs.750 mn, Rs.500 mn would be wheeled in by the state government as share capital, while the balance Rs.250 mn would be pooled in for the land acquisition from the subordinate loan head. The nodal agency executing the project is the UP Metro Rail Corporation (UPMRC). The detailed order issued by the housing and planning department mentioned that the allocation would be made available to the UPMRC. The order also said that the subordinate loan would be interest-free and would have to be paid back in equal instalments over a period of 10 years.
