Date Of Post: 30 Nov, 2017
Noida: The NCRPB (National Capital Region Planning Board) has disbursed the fifth installment of Rs 200 crore on Tuesday for the Noida-Greater Noida Metro Project. The board had earlier released Rs 930 crore towards the project, boosting the speedy execution of the corridor.
- A senior Noida Metro Rail Corporation (NMRC) official said,”With the approval of the fifth installment by NCRPB, the board has got a total of Rs 1130 crore out of the sanctioned Rs 1587 crore. The balance is expected to come soon subject to guarantee by Greater Noida Industrial Development Authority (GNIDA) and Noida Authority”
- NCRPB had in February this year sanctioned a loan of Rs 1,587 crore to NMRC for the 29.7 km long Noida-Greater Noida metro project that is estimated to cost Rs 5,503 crore, according to NMRC officials.
- P D Upadhyay, General Manager (Finance), NMRC said,”As of now the board has received a total of Rs 2483 crore out of the estimated cost of Rs 5503 crore. The loan received as the fifth installment will surely boost the last stage construction of the metro track and we are expecting that the track will be soon thrown open to the commuters, once the trial is successfully complete.”
- Upadhyay added,”The metro corridor is expected to substantially improve traffic flow in Noida and Greater Noida and will also benefit the daily office goers to Delhi and Gurgaon. Presently, the civil work of metro tracks is complete. The loan will cater finishing the electrical and mechanical works as well as clearing the dues of buying coaches.