UP Govt agrees to invest Rs.31600 crore for Delhi-Meerut RRTS project

Krishtina D'Silva Posted on: 2018-09-12 07:47:36 Viewer: 108 Comments: 0 Country: India City: New Delhi

UP Govt agrees to invest Rs.31600 crore for Delhi-Meerut RRTS project

Lucknow: Delhi-Meerut Rapid Rail (RRTS) Project is expected to get early clearance from Government. In order to sanction huge investment, the Inter-Ministries panel can approve the Rapid Rail network between the two cities this week. After the implementation of a rapid rail network travel time between Delhi and Meerut will be about 55 minutes. Sources said that the proposal has been forwarded to the Public Investment Board along with Phase-4 project of Delhi Metro by the Ministry of Housing and Urban Affairs (MoHUA) for evaluation.

Yogi Adityanath led Uttar Pradesh government had agreed to pay its share for the investment of Rs 31,600 crore for Delhi-Meerut rapid rail network. Later, the Delhi government gave the theoretical approval to the Rapid Rail project. The original proposal sent by the Ministry of Housing and Urban Affairs (MoHUA) has been suggested keeping in view the fact that the work of part of Uttar Pradesh can be done in the first phase, the state has completed 82 kms high speed rail corridor approved.

This project has not been approved by the Delhi Government, but now the process has been started for the approval of the Central Government. Rapid Rail Transit (RRTS) Project will be implemented by National Capital Region Transport Corporation (NCRTC), which has been set up as Special Purpose Vehicle (SPV) by the Central Government along with the Delhi Government and other states. According to officials, it is dependent on the Public Investment Board how the Rapid Rail Transit (RRTS) project is completed.

According to the project funding plan, 60 per cent of the expenditure will come as a loan by multilateral funding agencies, 20 per cent of the cost will be shared by the Central Government and the remaining 20 per cent will be shared by Uttar Pradesh and Delhi Governments. Rapid rail network, which connects the National Capital-Delhi to Meerut, will be aerodynamic and will have modern trains. This train will be provided to travelers like "business-class luxury" facility. Along with this train some coached will be a reserve for women passengers. The project is expected to complete by the end of 2024.

  




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