Centre gives Rs 250 crore for Lucknow Metro

File photo of Lucknow Metro Rail.

The fund released by Union Urban Development Ministry is in addition to Rs 300 crore released earlier this year. An official release from the ministry said that the latest funding would take the total assistance to Rs 550 crore.

Union Home Minister Rajnath Singh also discussed the progress of Lucknow Metro with Urban Development Minister M Venkaiah Naidu and sought its speedy implementation.

The 23 km Lucknow Metro is estimated to cost Rs 6,928 crore. Of this, central government provides Rs 1,003 crore as its share of equity, Rs 297 crore as sub-ordinate debt and Rs 3,500 crore as loan assistance.

The state government will have to arrange the remaining Rs 2,128 crore as its part.

Central government entered into a loan agreement with the European Investment Bank in March this year for providing a loan of Rs 3,500 crore to the Lucknow Metro Project.

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