MP state Budget has earmarked a sum of Rs 710 crore for Bhopal and Indore metro projects. The two cities in Madhya Pradesh have an under-construction priority corridor. External funding for both the projects is yet to be utilised. The state government has set a deadline of September 2023 to start the priority corridor of the metro projects.
The Metro operations between Indore and Bhopal will begin soon. According to finance minister Jadgish Devda, the primary corridor will be completed in 2023-24.
See also: Bhopal Metro: All you need to know
In October 2022, Madhya Pradesh Metro Rail Corporation limited (MPMRCL) official had indicated that the first installment of $ 250 million dollar loan (out of $ 400 million) from European Investment Bank (EIB) is anticipated to be released in the first quarter of 2023.
The announcement came after a visit from the EIB team to Bhopal. It is expected that the initial phase of the Bhopal Metro project will comprise two Metro lines and 28 stations. The Metro project will be divided into three main packages. The project equity is divided among various entities, with the MP government and the Union government holding 20% each, while the remaining 60% will be funded through a soft loan from the EIB.
