The Nashik Metro project proposal is in the advanced stage of its approval as the detailed project report (DPR) has been forwarded to the Union ministry of finance and ministry of railways for their consent.
Official sources involved with the project said that the Union ministry of housing & urban affairs (MoHUA) has forwarded the DPR to the ministries concerned. “Once the two ministries examine the details of the project and approve it, the proposal will be placed before the Union cabinet for the final nod,” said the sources adding that it would take time for the two ministries to go through the DPR.
The Rs 2100 crore project, known as Metro-Neo, is the first of its kind in the country as rubber-tyred AC bus coaches would run on two elevated corridors which is 32 km long, with overhead electric wires. The total number of station between the corridor will be 30.
While part of the project cost would be borne by the Union and the state governments, the other part of the funding would be raised by borrowings. Maharashtra Metro Rail Corporation would be the implementing agency for the project.
The state government has already approved the DPR before it was sent to MoHUA. There has been speculation in some quarters about the fate of the project due to the outbreak of Covid-19 which has impacted the economy. “We are hopeful that the Union government will approve this project after examining all aspects of the project minutely since the project is an innovative one,” said the officials.