Madhya Pradesh Metro Rail Company Ltd, which has undertaken projects in Bhopal and Indore, has been renamed as Madhya Pradesh Metro Rail Corporation Ltd, an official said on August 27.
The decision to this effect was taken on Wednesday in a meeting of the company's board of directors under the chairmanship of Chief Minister Shivraj Singh Chouhan, the official from the public relations department said.
Earlier, a tripartite pact was signed between the Centre, state government and the metro firm on August 19 in connection with turning the company into a corporation, he said.
"In all other states, the company has been registered as a corporation only and therefore, the same has been done in Madhya Pradesh as well," said Nitesh Vyas, principal secretary of urban administration and development department.
The chief minister has directed to complete the metro rail projects in Bhopal and Indore in three-four years, the official said.
According to the tripartite agreement, the new board will include five directors of the Centre and five directors (including managing director) from the state government, Vyas said.
The commissioner (urban development) of Madhya Pradesh will be its managing director, while principal secretaries of finance, revenue, public works and urban development departments will be its directors, he said.
As per the central government's Metro Rail Act, it is necessary to declare the metro construction area as a metropolitan area.