The Uttar Pradesh government on Friday decided to form a special purpose vehicle (SPV) to execute the planned Lucknow Metro rail project.

The SPV - Lucknow Metro Rail Corporation (LMRC) - will consist of principal secretaries of all concerning departments, including Urban Development, PWD and housing.

An official of the Central government would head the SPV, while an official from the Uttar Pradesh government would be its managing director.

The decision was taken during a meeting of a high-level committee headed by chief secretary Jawed Usmani, who asked the officials to first start work on the 27-kilometer north-south corridor route.  This route would link Amausi airport to Munshipulia, passing through Hussainganj, Hazratganj, Lucknow University, Nishatganj and Polytechnic crossing.  The corridor will cover 27 km.

It was also decided that the Delhi Metro Rail Corp's financial model would be adopted to fund the project.

Under the Delhi Metro Rail Corp's model, the Centre and the Uttar Pradesh government will share the project's cost in the ratio of 50:50.

The project is expected to complete at an estimated cost of Rs 14,000 crore.