The 38.215 km long project, scheduled to be completed by March 2018, will be funded on equal sharing basis between the state and the Centre with the latter contributing Rs 1,555 cr as equity and subordinate debt.
Nagpur Metro will connect 19.658 km of north-south corridor and 18.557 km of east-west corridor.
To execute the project, the Cabinet approved setting up of Nagpur Metro Rail Corporation, a senior Urban Development Ministry official said.
Nagpur with a population of 24 lakh people is the third largest city of Maharashtra and 13th largest in the country.
The project is scheduled to be completed by March 2018.
The proposed north-south and east-west alignments are expected to provide much needed connectivity to commuters and would traverse through some of the densest and traffic-congested areas of the Orange city.
The two corridors, together, is expected to bring about a total transformation in the city's urban transportation scenario by considerably reducing traffic congestion and bringing in a fast, comfortable, safe and affordable mass transportation system for the people of Nagpur.
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