New Delhi, Feb 24 The Union Cabinet, chaired by Prime Minister Narendra Modi, on Tuesday approved the extension of the existing North-South corridor of the Gujarat Metro Rail Corporation Limited's (GMRC) Ahmedabad Metro from GIFT City to Shahpur locality in Ahmedabad, for Rs 1,067.35 crore.
About 3.33 kms long and including three elevated stations, the project is scheduled to be completed in approximately four years, according to a Cabinet communique.
The project will be implemented by GMRC, a 50:50 joint venture between the Centre and the Gujarat government.
The extended corridor is expected to benefit approximately 23,702 passengers in 2029 and approximately 58,059 passengers in 2041, according to the communique.
It further stated that the project is expected to generate approximately 1,000 jobs in construction.
About 250 people will be employed in the post-construction phase for operations and maintenance.
"This project will generate a significant number of direct employment opportunities, equivalent to the number mentioned above. Additionally, other activities will generate indirect employment for even more people," according to the Cabinet communique.
The 68.28-km-long Ahmedabad Metro Phase-I -- APMC to Motera Stadium (North-South Corridor) and Thaltej Gam to Vastral Gam (East-West Corridor) – and Phase-II (Motera Stadium to Mahatma Mandir & GNLU to GIFT City), with a total of 53 stations, have been successfully made operational since September 2022 (Phase-I) and January 2026 (Phase-II).
The daily ridership on this line is approximately 1,60,000.
The extended corridor will strengthen connectivity between Ahmedabad and the GIFT region.
Key multinational companies, educational institutions, and commercial centres located along the proposed route will directly benefit.
This extension will also be beneficial to the daily commuters travelling between Ahmedabad and the GIFT region for catering for the travel needs related to business, employment and education.
Meanwhile, trading activity in GIFT Nifty touched a new record on February 22. The index recorded its highest-ever single-day trading volume of 457,989 contracts, with a turnover of $23.48 billion, or around Rs 2.13 lakh crore.
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