SPV for Metro Rail

SPV for Metro Rail
The Times of India

Bangalore: The proposed Bangalore Metro Rail project will not require private participation. It’ll be put on track by through a special purpose vehicle, Union urban development minister S Jaipal Reddy said on Thursday.

He was speaking to reporters on at the sidelines of the national conference on urban development and municipal GIS. The Centre will support the project and work is expected to begin shortly, he stressed.

He was not aware of the Mono Rail project proposed by the government. “The Union government has not received any proposal regarding implementation of Mono Rail in Karnataka. Kumaraswamy met me in New Delhi where we discussed the Metro project. I am not aware of this new proposal and I don’t want to react on the issue.’’

Bangalore, Kolkata and Delhi are among the cities to get Rs 50,000 crore in the next six years for infrastructure development. This amount will be released under the National Urban Renewal Mission (NURM), aimed at improving quality of life in the cities through developmental works.