The process of construction of the first-ever monorail project in the Capital will start soon. The corridor will connect Shastri Park and Trilokpuri in east Delhi.
The Delhi government, which has already given in-principal nod, will give its official approval in the next Cabinet meeting. Construction will start towards the end of the year after the Centre's approval. This was decided in a meeting chaired by CM Sheila Dikshit on Monday. Delhi Metro Rail Corporation MD Mangu Singh gave a presentation of the project in the meeting.
"We hope the monorail's construction process will start by March. The tender process will begin immediately," Singh said.
Dikshit said the monorail will not only supplement Metro services but also help residents of congested localities to make use of a modern and convenient public transport system.
Delhi transport minister Ramakant Goswami said, "Construction work of the project will start by September-October. The funding pattern will be approved on the lines of Delhi Metro projects with the help of soft loans from Japan International Cooperation Agency (JICA)."
According to sources, a debt equity ratio of 60:40 will be proposed. The Central and state governments will contribute 30 per cent each and the rest will be raised from JICA.