Centre to have stake in Jaipur Metro Rail Corporation

The Union Cabinet is learnt to have cleared a proposal to allow the central government to buy a share in Jaipur Metro Rail Corporation (JMRC) on the pattern in which it has a stake in DMRC and other metro networks in the country.
Sources said a decision was taken today at a meeting of the union cabinet, which was not announced considering the Election Commission's model code of conduct in Rajasthan where assembly election has been declared.
JMRC was incorporated on January 1, 2010 under the Companies Act to implement the Metro Rail Project in the Pink City and at that time the intention of Rajasthan government had been to carry out the project on its own without a central government stake.

Sources said it is estimated that the central government would contribute nearly Rs 630 crore towards the phase I of the project which would be equal to the fund Rajasthan government would contribute.
The total length of the phase I of Jaipur metro is 12.067 kms which includes elevated from Mansarovar to Chandpole - 9.278 kms and another 2.789 kms long underground corridor from Chandpole to Badi Chaupar, sources said. It will have 8 elevated and three underground stations.