Government of India approved metro projects in two cities in the state of Madhya Pradesh – Bhopal and Indore. Total estimated cost of the project in both cities is around INR 145 billion (US$ 2.1 billion) and the project will be partly funded by the central government.
Government of Madhya Pradesh constituted a SPV namely Madhya Pradesh Metro Rail Co Ltd. (MPMRCL) for implementation of the metro rail projects in the state and Hon’ble Chief Minister is the Chairperson of this company. Detailed Project Reports for both the projects have been prepared in accordance with the requirements of the cities.
Indore Metro Rail Project comprising Ring Line of length 31.55 Km from Bengali Square - Vijay Nagar - Bhawarsala - Airport - Patasia - Bengali Square which will connect major public nodes and city cluster areas of Indore. The number of Stations on the Ring Line are 30 and the estimated cost of the project is INR 75 billion (US$ 1.1 billion) and the project will be completed in four years (2018-2023). The financing of Indore Metro Rail Project will be partly from Central Government and State Government of Madhya Pradesh on equal equity basis and partly as loan from Asian Development Bank (ADB) and New Development Bank (NDB).