Budget 2016: Nagpur Metro Rail seeks Rs 500 crore each from both Central, Maharashtra govts

The Nagpur Metro Rail Corporation has sought Rs 500 crore each from Union and Maharashtra governments for meeting the immediate expenses even as the process of securing loan from French and German financial institutions is gaining momentum, a top executive said on Tuesday.

"The Nagpur Metro has demanded Rs 500 crore each from both the governments and is hoping that necessary provisions will be made during the forthcoming Budget," its Managing Director Brajesh Dixit told a press conference here.

He said the work on the project was ahead of schedule and funds of Rs 194 crore has so far been received by the Nagpur Metro from stake-holders. The first phase of the Rs 8680-crore project is expected to be operational by late 2018.

Meanwhile, 'Metro Man' E Shreedharan will attend interactive sessions on the themes 'Maker of Metro' and 'Users of Metro' during the first foundation day of the project here on February 18. He will deliver a keynote address after presentations are made by the authorities concerned and later participate in the sessions, Dixit added.