The Indian Government has said that it has decided to bear the entire additional cost of Rs 765 crore of the ongoing East West Metro Rail project, to complete the project and commission its first phase by 2018, media reported.
Commenting on the issue, Railway Minister Suresh Prabhu told the media, "We have decided to remove all hurdles in the phase II of the East West Metro project. The escalation cost of the projects is Rs 765 crore. We will bear that. In the next two weeks, the honourable CM and myself will definitely launch the project again and this is going to be the longest under-sea project."
"The Railways will bear the entire burden of escalated cost of Rs 765 crore and the first phase of the long-awaited East-West Metro Rail in Kolkata will be commissioned in 2018," he added.
As per reports, the projected date for the launch of the first phase of the Rs 4,875 crore project has been set as June 2018.