Center and State to take 20% stake each in Vijayawada Metro

Delhi Metro Corporation had submitted the DPR of Vijayawada Metro on Monday. According to the trusted sources in the state government, DPR is submitted only for two corridors out of the total three in Vijayawada Metro. These two corridors will cost 6823 Crore to the exchequer. The DPR proposes the state government and Central government to have 20% stake each which amounts to 1200 Crore each in the project.

The remaining amount should be pooled in from loans of Overseas development agencies. In order to avoid any delay, DMRC is likely to be given the contract directly, since DMRC is a government entity, there should not be any controversies. The ground breaking ceremony for this project will take place in June itself and the target is to complete the first phase by 2019 elections.

Metro Rail Projects to Vijayawada and Vishakapatnam were sanctioned to Andhra Pradesh during the state division. Since Metro Rail Projects come under Union Urban Development Ministry for which Venkaiah Naidu is the Minister, there should not be dearth in funds for this project.