VISAKHAPATNAM: The ‘Light Metro Rail Project’, estimated to cost Rs 8,000 crore, had been sanctioned to Visakhapatnam and the management, as well as the execution responsibilities of the project had been entrusted to the VUDA by the metro rail project monitoring committee, said P Basanth Kumar, the vice-chairman (VC) of Visakhapatnam Urban Development Authority (VUDA), as he was interacting with the media persons here, recently. Basanth Kumar also said that in the project, which will be taken up in the Public Private Partnership (PPP) mode, the Amaravati Metro Rail Corporation will have 50 per cent stake and the project contractor will have the bulk of the remaining stake, with VUDA having a nominal capital share.
P Narayana, Municipal Administration and Urban Development minister, Karikal Valvan, principal secretary of Urban Development and other higher officials had reportedly, in a recent meeting held in the capital city, discussed the project and took a decision regarding delegation of the execution responsibilities to the VUDA. “We will submit a detailed project report (DPR) of the mega project to the government soon,” said the VUDA VC.