Lucknow Metro project approved

Tribune News Service

New Delhi, December 22

The Cabinet today cleared the Lucknow Metro Rail Project Phase-1 A, which will cover a length of 22.878 km with 22 stations.

The decision was taken at a Cabinet meeting chaired by Prime Minister Narendra Modi. The cost of the project will be Rs 6,928 crore which will be supported by the Centre with Rs1,300 crore in the form of equity and subordinate debt. 

The project will be implemented by Lucknow Metro Rail Corporation (LMRC), which will be reconstituted into a 50:50 jointly owned company of the Central government and the Uttar Pradesh Government.

Of the route of 22.878 km, the elevated route will be 19.438 km while the underground route will be 3.440 km. It will have 19 elevated and three underground Metro stations. The Metro will run between the Chowdhary Charan Singh Airport and the Munshi Pulia.

The project will come under the legal framework of the Metro Railways (Construction of Works) Act, 1978; the Metro Railways (Operation and Maintenance) Act, 2002; and the Railways Act, 1989, as amended from time to time.

In another decision, the Cabinet Committee on Economic Affairs (CCEA) has approved investment of Rs 5,000 crore by Oil and Natural Gas Company Limited (ONGC) into the equity share capital of ONGC Videsh by conversion of existing loan of equivalent amount into equity.

The approved investment will strengthen the capital base of ONGC Videsh. It will enhance the ability of ONGC to undertake overseas exploration and production (E&P) business, thereby improving the energy security of the country.