Nagpur Metro stops construction as promise funds to Maha Metro is not fulfilled

Image Source: Internet 

Nagpur, India (Metro Rail Today): In a major setback for the city, the work of Indora and Cotton Market metro stations has come to a halt as Nagpur Municipal Corporation (NMC) and Nagpur Improvement Trust (NIT) have not paid the promise funds to Maha Metro. 

As per the three party agreement, NIT and NMC had promised 5% share each in the Rs 8,680 crore phase-I of Nagpur metro project. which comes to Rs 434 crore each. Out of the total Rs 868 crore, the local urban bodies are yet to pay Rs 555 crore to Maha Metro. As per the agreement, NMC has to pay Rs 73 crore in cash while NIT has to pay out Rs 83 crore.

A source of Maha Metro said,

Overall, NIT has to pay Rs 189 crore to Maha Metro while NMC’s pending share is Rs 366 crore. Both NMC and NIT have not paid the agency any significant amount in cash. NMC and NIT have given us only land worth Rs 68 crore and Rs 245 crore respectively. Both the bodies have not paid their share for the Nagpur Metro Rail Project (NMRP) Phase-I as per the approved funding pattern of MahaMetro, due to which the agency is facing a financial crunch. 

While work is going on in all phase-1 metro stations of Reach II (Sitabuldi Interchange to Automotive Square), and Reach IV (Sitabuldi Interchange to Prajapati Nagar), it has come to a halt at Indora (Reach II) and Cotton Market stations (Reach IV). Locals said that no activity has been seen at the two stations since last few days.


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