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Rs 7100 million allocated for Bhopal & Indore metro rail projects
A total of Rs 7100 million has been allocated in the MP state budget for the metro rail projects in Bhopal and Indore. An under-construction priority corridor exists between the two cities. The two projects have yet to use any outside cash. The state administration has set September 2023 as the starting date for the priority corridor of the large-scale metro projects.
Metro train service between Indore and Bhopal will shortly begin to operate. We anticipate that the primary corridor will be executed in the year 2023-2024, according to Finance Minister Jadgish Devda. An official of Madhya Pradesh Metro Rail Corporation Limited (MPMRCL) had earlier in October stated that the first tranche of a $250 million loan out of a total of $400 million from the European Investment Bank (EIB) is anticipated to be released in the first quarter of 2023, after the EIB team had visited Bhopal.
The Bhopal Metro project's first phase will include 28 stations and 2 lines. The Bhopal metro project is anticipated to be completed with the help of three major packages. The first significant loan amount from the EIB would be necessary. The Indore Metro's foreign funding source is ADB. The MP and EU governments each own 20% of the project equity, while the remaining 60% will be funded by a soft loan from the EIB.
