State OKs Rs 8,705-cr Ludhiana Metro project
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Sources said the per kilometer cost for the construction of the metro will be Rs 175 crore for elevated track and Rs 325 crore for the underground. The average cost per kilometer is around Rs 300 crore.
There will be two maintenance depots for the metro, one will be near Baddowal and will spread over 26 hectares, and the second depot will be near Gill village spread over 21 hectares. At these depots, washing, cleaning, repair and maintenance of the train engine and bogies will be carried out.
The ticketing system of the Ludhiana Metro will be similar as of Delhi Metro, tentatively Rs 10 for first two kilometers and then there is formula to calculate further fares.
The DPR further states that the state government should exempt Punjab Value Added Tax (VAT) on the metro, and also charge no tax be on the electricity required for the operations. It has also proposed exemption of municipal taxes.
Also a Special Purpose Vehicle (SPV) should be set up for the Ludhiana Metro and should be registered under Companies Act. It should be a public sector undertaking of the state government and be named ``Ludhiana Metro Rail Corporation''.
Earlier, the total cost of the project was estimated at Rs 10,516 crore and was to be operational by 2014. Of the 29 km, some 12 km were underground, while rest would be above the ground.