VUDA Asked to Raise Money for the Metro Rail Project in Vizag

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It was previously announced that plans are being drawn up for a Metro Rail project in Visakhapatnam. The state government is now making VUDA take its responsibility by asking it to pitch in Rs 13,000 crore for the project.

The Metro Rail project is touted to stretch across 45 kms and various studies have been completed for the same. The Coordination Committee for the Vizag Metro was in a meeting with the Amaravati Metro Rail Corporation of Vijayawada earlier this month. The Amaravati Metro Rail Corporation MD, N Ramakrishna Reddy, is also in charge of the Vizag Metro.

While the government will pitch in for a part of the project, major chunk will be borne by an agency under the PPP model. VUDA has also been asked to raise 13% of the funds. The development authority reportedly plans to raise these funds by auctioning off land sought from the government. And because plotting and developing will take time, a bulk land option is being considered.

A detailed project report of the metro corridor was prepared and submitted to the state government in August 2015 with the Delhi Metro Rail Corporation as the consultants. The project was approved by the state cabinet and is now under appraisal of the Union Government. Another meeting of the Coordination Committee was initially scheduled for today. Principal Secretary, MA&UD, Karikal Valaven, the Collector, GVMC, VUDA, Police and Andhra Pradesh Urban Infrastructure Asset Management Limited were the participants of the meeting.