Estimated completion cost of the project is Rs 8,575 crore and the target date of completion is December, 2021.
The project envisages construction of a metro corridor between Salt Lake Sector-V to Howrah Maidan in West Bengal for a total route length of 16.6 km, Goyal said while briefing reporters on the Cabinet decision.
According to an official statement, the project will reduce commuting time and fuel consumption, reduce capex on road infrastructure and ease traffic in Kolkata.
The project is being implemented by Kolkata Metro Rail Corporation Limited (KMRCL) which is a central public sector enterprise under the Ministry of Railways set up as a special purpose vehicle.
The pre-pandemic target for completion of their project was December, 2021.
The project includes immense technological challenges like tunnel below river Ganga which is the first transportation tunnel in India under any major river as well as Howrah station which is one of the deepest Metro stations in India.
The mega project envisions creation of an efficient transit connectivity between business district of Kolkata with industrial city of Howrah in west and Salt Lake City in east through a safe, accessible and comfortable mode of public transport.
Since this corridor connects three most important parts of the Kolkata Metropolitan area — Howrah, business area of Kolkata and new settlements in Salt Lake — and is expected it is going to revolutionise the mass rapid transport in Kolkata and adjoining Howrah and Bidhanangar.
This will connect important landmarks like Howrah, Sealdah, Esplanade and Salt Lake Sector-V which is an IT hub.
It will integrate multiple modes of transport like the Metro, Sub-urban Railways, ferry and bus transport by constructing interchange hubs. This will ensure smooth and seamless mode of transport to lakhs of daily commuters.