Union Cabinet Approves ₹1,067 Crore Metro Extension to GIFT City
Synopsis
Key Takeaways
New Delhi, Feb 24 (NationPress) The Union Cabinet, led by Prime Minister Narendra Modi, has greenlit the expansion of the existing North-South corridor of the Gujarat Metro Rail Corporation Limited (GMRC) in Ahmedabad. This extension will connect GIFT City to the Shahpur area, with a budget allocation of Rs 1,067.35 crore.
Spanning approximately 3.33 kilometers and featuring three elevated stations, the project is projected to be completed within four years, as per the Cabinet announcement.
GMRC, a joint venture equally shared between the Centre and the Gujarat government, will execute the project.
By 2029, it is anticipated that the extended corridor will serve around 23,702 passengers, and this number is expected to rise to 58,059 passengers by 2041, according to the official statement.
The initiative is also expected to create about 1,000 jobs during the construction phase, with an additional 250 jobs for operations and maintenance once the project is completed.
As noted in the Cabinet statement, "This project will yield a considerable number of direct employment opportunities, as indicated earlier. Furthermore, related activities will likely foster indirect employment opportunities for a larger segment of the population."
The Ahmedabad Metro Phase-I, which includes the North-South Corridor from APMC to Motera Stadium and the East-West Corridor from Thaltej Gam to Vastral Gam, along with Phase-II (Motera Stadium to Mahatma Mandir & GNLU to GIFT City), comprises a total of 53 stations and has been operational since September 2022 (Phase-I) and January 2026 (Phase-II).
This metro line currently accommodates a daily ridership of approximately 160,000 individuals.
The newly extended corridor will significantly enhance connectivity between Ahmedabad and the GIFT region.
Key multinational corporations, educational establishments, and commercial centers situated along the proposed route stand to gain considerable advantages.
This extension will also cater to the daily commuting needs of individuals traveling between Ahmedabad and the GIFT region for purposes related to business, employment, and education.
In a related note, trading activities in GIFT Nifty reached a new peak on February 22, recording an unprecedented single-day trading volume of 457,989 contracts, with a turnover of $23.48 billion, equivalent to approximately Rs 2.13 lakh crore.