New technologies: ‘MetroLite’ and ‘MetroNeo’
A new Rs.18,000 crore scheme will be launched to support augmentation of public bus transport services in Urban Areas by facilitating deployment of innovative PPP models to enable private sector players to finance, acquire, operate and maintain over 20,000 buses.
The scheme, announced by Finance Minister Nirmala Sitharaman announced in budget 2021-22 on 1 Feb 2021, will boost the automobile sector, provide fillip to economic growth, create employment opportunities for the youth and enhance ease of mobility for urban residents.
The Government plans to deploy two new technologies i.e. ‘MetroLite’ and ‘MetroNeo’ to provide metro rail systems at much lesser cost with same experience, convenience and safety in Tier-2 cities and peripheral areas of Tier-1 cities, said the Minister.
Budget proposed Central counterpart funding to:
Kochi Metro Railway Phase-II of 11.5 km at a cost of Rs.1957.05 crore;
Chennai Metro Railway Phase –II of 118.9 km at a cost of Rs.63,246 crore;
Bengaluru Metro Railway Project Phase 2A and 2B of 58.19 km at a cost of Rs.14,788 crore;
Nagpur Metro Rail Project Phase-II and Nashik Metro at a cost of Rs.5,976 crore and Rs.2,092 crore, respectively. tenders #projects #investment #technologies #budget /fiinews.com
