Ghaziabad authority pays Rs 50 crore instalment for Metro | noida | Hindustan Times
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Ghaziabad authority pays Rs 50 crore instalment for Metro

noida Updated: Dec 31, 2016 23:10 IST
Peeyush Khandelwal

With the instalment, the authority has paid nearly ₹540 crore out of its share of ₹695 towards the project.(HT File)

The Ghaziabad development authority has forwarded a payment of Rs 50 crore to the Delhi Metro Rail Corporation (DMRC) for the under construction 9.41km metro route in Ghaziabad. With the instalment, the authority has so far paid up nearly Rs 540 crore out of its share of Rs 695.8 crore towards the project.

From other UP agencies, the officials said that they have only received Rs 50 crore from Avas Vikas and another Rs 3.3 crore from UPSIDC so far as their share towards the project. The project, pegged at Rs 2210 crore, is slated to get complete by June, 2017.

“The authority will continue to pay up its share. We have paid another instalment of Rs 50 crore to DMRC on Saturday. The pending funding from other UP agencies is in knowledge of state officials and will be expedited soon,” said Sushil Dwivedi, chief engineer, GDA.

The authority faces a major issue of getting funds from Ghaziabad municipal-corporation. The agency said that its major share of funds of nearly Rs 200 crore can be adjusted by GDA on account of corporation land acquired previously. However, for this transfer of money towards the metro project, a change in government order is needed and presently under consideration by the state revenue department.

Further, the present state cabinet is yet to approve the revised detailed project report (DPR) cost of Rs 2210 crore for the 9.41km metro link, the earlier cost being Rs 1770 crore as per 2012 prices. The clearance of the revised DPR will enable the project to get Rs 402.4 crore grant from Government of India for the metro project.

So far, the DMRC has gone ahead with the construction of pillars and placing of segment on the elevated corridor of the project. The DMRC would need major funds when it starts procuring the rolling stock and also while start of laying of tracks and signals for the project.