Running against the time to re-develop at least three inter-state bus terminals (ISBT) by Commonwealth Games, the Delhi transport department is now looking up to financial institutions for funds.
The transport department had earlier planned to rope in private companies under Public Private Partnership (PPP) basis to re-develop three ISBTs at Kashmere Gate, Anand Vihar and Sarai Kale Khan and build a new ISBT at Dwarka.
With private companies giving cold shoulder to its proposal, the transport department is now exploring options to get assistance from financial institutions.
The Delhi transport department has recently written to the Housing and Urban development Corporation (HUDCO) for a loan to renovate and refurbish the Kashmere Gate ISBT. Senior transport department officials the project would cost the government about Rs 1 billion (Rs 100 crore).
"Though we have already got the go-ahead to start the work, we immediately need money to complete it in time for the Commonwealth games 2010," a senior transport department official said not wishing to be named.
According to transport department officials, the Kashmere Gate ISBT caters to over one lakh passengers every day. About 2,500 inter-state and local buses for six states and local routes of Delhi ply from the ISBT every day.
For Anand Vihar and Sarai Kale Khan, said a senior transport department official, the national Capital Region Planning Board (NCRPB) has agreed to fund Rs 2 billion (Rs 200 crore) each for the two ISBTs.
The two ISBTs have to be developed as per international standards with modern facilities for passengers and multi-level parking for buses.