The State government will allot 250 acres land for the Metro Rail project in Visakhapatnam, Chief Minister N. Chandrababu Naidu has said.
Addressing officials at a review meeting at the Secretariat on Wednesday, Mr. Naidu said permissions required for the project would be discussed in the Cabinet meeting.
“The land allotted can be developed on commercial lines and the revenue thus generated utilised for construction of the project. Tenders have to be invited as soon as permissions are granted,” Mr. Naidu said.
Officials told the Chief Minister that five companies had been short-listed for the Rs. 8,300 crore project, which was being taken up under the “innovative PPP mode.”
Three corridors, in a stretch of 42.5 km, were proposed as part of the project. They would be developed in five years at a cost of Rs. 4,100 crore. Elevated corridors and stations would come up at an estimated cost of Rs. 4,200 crore. The developer would have to maintain the project for 30 years, the officials told Mr. Naidu.