The Bihar government has decided to constitute Special Purpose Vehicles (SPV) in a bid to speed up the Patna Metro rail project, state Urban Development Minister Samrat Choudhary Friday said.
"After the SPV is constituted, the DPR (Detailed Project Report) of the Patna Metro rail will be sent to the central government for approval," Choudhary said.
He said the decision was taken at a high-level meeting with top officials of the state government.
SPV will be set up with a board of directors, headed by a non-executive chairman and project director as MD of Metro Rail Project.
Early this month, the Rail India Technical and Economic Service (RITES) finalized the DPR for the Patna metro rail project and submitted it to the state government.
The DPR has reduced the project cost to Rs.14,000 crore from Rs.17,000 crore that was estimated earlier.
He said that now the state government will work to declare Patna a metropolitan city as it will help to speed up the Metro train project.
He said that initially the Metro rail will be run on two routes in the city.
A Patna Metro Rail Corporation on the lines of the Delhi Metro Rail Corporation will be formed for monitoring the construction, he added.
Patna is home to more than two million people, and congestion is a serious problem on the city's overcrowded roads.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
