Metro Rail, IT City to promote ‘Brand UP’, believes Akhilesh Yadav
Uttar Pradesh Chief Minister Akhilesh Yadav is pitching for the Lucknow Metro Rail and IT City projects in the city to promote ‘Brand UP’ among investors. Success of these projects would initiate economic growth and reassure investors about timely completion of projects.
HCL arm Vamasundari Investments is developing the 100-acre IT City project (as part of CG City) along the Lucknow-Sultanopur highway. CG City includes a school, hospital, dairy processing plant and a township, besides IT City and Indian Institute of Information Technology (IIIT).
UP Chief Secretary Alok Ranjan believes it would generate jobs and earn international repute. Yadav foresees development on the lines of similar hubs in Hyderabad and Bengaluru.
He has also set the ball rolling on the much-delayed Metro Project, the first phase of which would be undertaken soon. This 23 km. Corridor would connect the airport to the city, and would cost Rs. 7000 crore. On 3rd March, Yadav had laid the foundation of the project.
The state has allocated 95 crore to the project in its 2014 budget. External funding options from agencies such as Japan International Cooperation Agency (JICA) and European Investment Bank (EIB) are being explored.
Work on this project may likely begin from September ’14. The first track should be functional in three years.
Source- Business Standard
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