Joint venture model approved for Jaipur Metro’s second phase
Jaipur: The union government has granted formal approval for the operational and maintenance activities of the ongoing Jaipur Metro in its first phase. Approval has also been given for the implementation of the Joint Venture model, with prior clearance for the second phase already secured. Under this model, a joint venture company will be formed with shared participation of 20% from the union government and 20% from the state government.
Formal procedures have commenced for the establishment of this company, which will finance the remaining costs through financial institutions. Initially estimated at Rs 4,600 crore for the operation in the second phase, the updated Detailed Project Report (DPR) and a new DPR for another route will determine the actual costs for the second phase.
