The Ghaziabad development authority (GDA) officials on Saturday will hold discussions about the review of funding options for the under-construction 9.41km metro project from Dilshad Garden to New Bus Stand in Ghaziabad. The discussions will be taken up in a meeting to be chaired by commissioner (Meerut).
The commissioner (Meerut), who is also the chairman of the GDA, will try to iron out funding issues for the metro project being built at a cost of ₹2,210 crore in order to get the project operational by 2018.
“The review meeting will focus on the share which the Ghaziabad municipal corporation is supposed to provide for the project. The authority has already paid a majority of its share. We will also discuss other funding options,” said Kanchan Verma, vice chairperson, GDA.
Of the project cost, the Uttar Pradesh agencies, including GDA, are to give a total of ₹1,479.6 crore in a specified ratio. Of this, the GDA has paid a major portion of its share of ₹695.8 crore, while funds from other departments are still awaited.
Sources said they are contemplating several options to expedite funding, including writing to the parent departments to speed up payments, obtaining soft loans from financial institutions and requesting the state government to fund it.
“The metro officials also briefed us about the progress and said nearly 80% of the civil works and 40% of the station work are complete at present. The work on stations will be speeded up. Apart from this, the cabinet note for clearing the revised detailed project report (DPR) may be taken up in the coming cabinet meeting,” Verma added.
The clearance of the revised DPR will help the project get Rs 402.4 crore grant from the Centre as its share towards the metro project.
The officials have also attended a meeting in Lucknow where presentations about the rapid rail transit system (RRTS) between Delhi and Meerut was also put forward. The RRTS will ease travel among Delhi, Ghaziabad and Meerut.
“The land acquisition will be taken up by the authorities and district administration for the project. The fund contribution details will be decided by the state government. Once the state government approves the detailed project report, the matter will be taken up by a committee at the Centre,” Verma said.
The work on the project is expected to start by 2018 once it gets necessary approvals.