The works of Vishakapatnam Metro Rail Project which were put on the backburner for the last two years are likely to begin in the new year. The state government has given the responsibility of the project to Vishakapatnam Urban Development Authority (VUDA).
The total cost of the project was pegged at a whopping 13000 crore and Vuda will raise about 13 percent of the funds required for the project. The required funds will be met by likely auctioning its lands in the city. The Central government held up the project DPR for several months citing that there are concerns over the financial viability of the project.
The Union government has finally given its nod for this project after repeated pleas from the state government in July last year. The project will be taken up in the public-private partnership mode and it would take about four years to complete it.
