The Howrah-Writers’ Buildings stretch, will be part of the 13.77-km-long corridor, linking Howrah to Salt Lake and will be constructed at a cost of Rs 4,676 crore in two phases.

The Cabinet gave its nod to implement the project which will be executed through a joint venture company to be formed by the state Government and the Centre. The approval came exactly a year after the state Cabinet had cleared the project in June last year. While 55 per cent of the cost will be borne by the Centre and the West Bengal Government, the remaining 45 per cent will be raised through a debt from the Japanese Bank of International Cooperation (JBIC).

Besides, the Cabinet gave its approval for constitution of a Special Purpose Vehicle on a joi nt venture between the Centre and the state. It also approved the constitution of a High Power Committee, Empowered Committee, Empowered Group of Ministers and Legal Framework. The equity participation of the Centre and the state will be on a 50:50 basis. The SPV will ensure the project is completed successfully and will also look into the maintenance and operation aspects of the project.

The project envisages a 13.77 km stretch of a Metro corridor of which eight kilometres will be underground and the remaining 5.77 km will be an elevated section. “The first stage of 5.77 km elevated section would be commissioned in five and a half year,” said Information and Broadcasting Minister Priyaranjan Dasmunsi, adding he was “personally very happy” with the decision since he had been involved with the project for a long time.

An autonomous body, the Kolkata Metro Rail Corporation (KMRC), is being set up on the lines of the Delhi Metro Rail Corporation which will delink the East West Metro’s functioning from the Indian Railways.