The Union Cabinet chaired by the Prime Minister Narendra Modi has approved the Noida – Greater Noida Metro Rail Project covering a length of 29.707 km. Total completion cost of the project is Rs 5,503 crore.
Project will be implemented by Noida Metro Rail Corporation, which will be a 50:50 jointly owned company of government of India and government of Uttar Pradesh. The existing Noida Metro Rail Corporation Limited (NMRCL) which is a State owned Special Purpose Vehicle (SPV) will be converted into a joint SPV of Government of India (Gol) and Government of Uttar Pradesh (GoUP), for implementation of the project.
The project is scheduled to be completed by April, 2018 as per the Detailed Project Report (DPR). About 70 per cent progress of civil work and 40 per cent of overall financial progress of the project have been achieved.