In an attempt to put the Metro Rail Project between Ahmedabad and Gandhinagar on the fast track, the state government will set up a Rs200 crore company for the execution of the project.
The company is likely to be christened as the Metro Link Express for Gandhinagar and Ahmedabad (MEGA). Sources in the state government said the formalities for the formation of the special purpose vehicle (SPV) — MEGA — have already been cleared.
Earlier, the DMRC (Delhi Metro Rail Corporation Ltd) in its techno-feasibility report had suggested the need to establish an SPV for the Metro Link Express. “The company will help plan and implement the Metro Rail Project and its expansion,” said a source. It will have the right to acquire land for the project and will act as a nodal agency for all future projects of the company, the source said.
The formation of MEGA is expected to give a major boost to both the metro rail project and the regional rail project which aims to connect the peripheral areas of Ahmedabad with the dedicated rail link
On an average, some 50,000 people commute between Ahmedabad and Gandhinagar every day.
