NMC shall pay its Share for Nagpur Metro Rail project in the form of Land

Nagpur (NGP): NMC will pay its share for Nagpur metro rail project in the form of land it will provide to the Nagpur Metrol Rail Corporation. It has not made any separate financial allocation for the ambitious transport project, standing committee chairman Ramesh Shingare revealed after presenting the standing committee’s budget for the year 2015-16 on Monday.

NIT has earmarked Rs.50 Crore from its Rs.400 Crore budget for the metro. Even civic chief Shravan Hardikar had made a token provision of Rs.5 Lakh for the project in his budget for 2015-16 just to open account head so provision can be made in future if needed. Mayor Pravin Datke and ruling party leader Dayashankar Tiwari clarified that the civic body will pay the money through book adjustment as NMC’s land will be acquired for the project. Speaking to mediapersons, they said the NMC was giving land worth crores of rupees.

Though NMC is considering land as its share of cost, the MADC has allotted its 37 hectares of land free of cos for the metro project the work on which commenced on May 31. The target is to complete the two corridors of total length 38.21km by December 2018. Of the approved cost of Rs.8,680 Crore, the central and state government’s share is 20% (Rs.1,736 Crore) each. NMC and NIT are to bear 5% (Rs.434 Crore) each while remaining 50% is to be raised through loans.

NMRC managing director Brajesh Dixit said such arrangement was already finalized with the Nagpur Municipal Corporation. He said NMC not making any additional financial provision would not affect the progress of the project. “NMRC had already received Rs401 crore from government of India, Maharashtra government and Nagpur Improvement Trust,” he said.