Advertisement

HindustanTimes Tue,16 Sep 2014

Monorail construction to begin by year-end after Centre's nod

HT Correspondent, Hindustan Times  New Delhi, February 05, 2013
First Published: 01:06 IST(5/2/2013) | Last Updated: 02:26 IST(5/2/2013)

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.

Advertisement

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. 

http://www.hindustantimes.com/Images/Popup/2013/2/05_02_pg4b.jpg

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.


Advertisement
more from New Delhi

Whodunit: Removing HT market copies to win ‘morning challenge’?

As the strongest and the largest read newspaper of Delhi NCR, HT is used to facing challenges from various quarters. But, over the last few days, HT has been confronting a peculiar challenge: readers complaining about copies not reaching them.

Advertisement
Most Popular
Advertisement
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved